AJK moves to encourage investment, seeks input

MIRPUR (AJK): Azad Jammu and Kashmir (AJK) Minister for Industries Noureen Arif said that the government has decided to drew up an integrated industrial plan in coordination with  the Azad Jammu and Kashmir Chamber of Commerce and Industry (AJKCCI) to encourage and promote local and foreign investment in trade and the industrial sector.

“The plan also involves attractive investment in the industrial sector by UK-based Kashmiri expatriates in AJK besides reviving the sick industrial units in the existing industrial estates in Mirpur division,” she said while addressing members of the AJKCCI.

The minister said that one of the nine proposed Special Economic Zones would be established in Mirpur under the China-Pakistan Economic Corridor (CPEC) as sanctioned by the authorities so far.

She said the government was taking all possible steps for the early revival of sick industrial units in Mirpur and Bhimber. The government has focused to promote industrial activities in Mirpur and Bhimber districts under the spirit to provide more job opportunities to the unemployed, skilled and unskilled persons, he added.

Speaking on this occasion, AJKCCI President Murtaza Ahmed said that his chamber has already forwarded some recommendations to the AJK government to devise a strategy for the early revival of over 80 sick industrial units located in Mirpur and Bhimber districts.

He said that in the light of various proposals the government has assured to encourage and boost foreign investment in the trade and industrial sector in AJK and colossal funds have already been placed in the 2017-18 AJK budget.

Ahmed said massive potential was available for launching investments in hydel power generation, mineral and tourism sector in AJK. He disclosed that the chamber had also moved the AJK administration for the formation of a high level committee comprising officials of commerce and industry, electricity, finance and taxation to inquire about the problems of the local corporate sector.

Published in The Express Tribune, January 19th, 2018.

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