President AJ&K Offers Free Of Cost Land To Investors29 November 2011
Karachi: Azad Jammu and Kashmir (AJ&K) has immense potential for new investment in various fields, President AJ&K, Sardar Muhammad Yaqoob Khan said. He said instead of looking towards foreign investors the business community should look towards local investors and provide them with necessary facility to invest in Pakistan and Azad Kashmir. He invited business community to invest and establish industrial and power generating units in Azad Kashmir. Talking to members of Site Super Highway Association of Trade and Industry (SSHATI), he invited business community to visit Azad Kashmir to see and evaluate investment opportunities and make plan for investment. He offered free of cost land for establishing industrial units besides assuring continued power supply and tax concessions. He said Kashmir has potential of generation 15,000 to 18,000 Megawatts (MW) power, which could be supplied to meet the demand of Pakistan. Sardar Yaqoob said work on 1,000 MW power generating project was in progress and likely to be completed next year. He pointed out Azad Kashmir produced best quality apple and other fruits and a large quantity of its goes waste due to non-availability of cold storage facility. He said immediate need to reconsider trade list with India would be beneficial, as there was several ambiguities to keep trade in balance between the two countries. He said the Most Favoured Nation (MFN) status to India would affect women textile and fabrics, second-hand clothing, fruit and vegetable and dry fruit sectors of the country. “The real people are the industrialists and traders as they are capable to run the business matters with sheer knowledge and economic benefits,” he claimed. He said import of locomotive engines and bogies from India would be cheaper. “The government should also seek transfer of technology from India,” he added.