Sardar Fahad underscores need for setting up industrial units in AJK

KARACHI: Adviser to the Prime Minister of Azad Jammu and Kashmir (AJK) on Commerce, Industry and Labour, Sardar Fahad Yaqoob Khan has said that the establishment of industrial units in Azad Kashmir will facilitate access to markets as far as Central Asian countries and significantly enhance bilateral and regional trade.

He stated that Azad Kashmir offers vast potential in industry and commerce, and the government is fully committed to providing all possible facilities to investors coming from within the country and abroad.

He expressed these views while addressing industrialists at a ceremony held at the Korangi Association of Trade and Industry (KATI). Sardar Fahad Yaqoob Khan said that industrialists and traders play a pivotal role in strengthening the economy, adding that investment is being actively encouraged in Azad Kashmir’s industrial zones, energy, tourism, and hydropower sectors.

He noted that the AJK government is promoting business activities through investor-friendly policies to create a conducive environment for sustainable economic growth. He further informed participants that Azad Kashmir has six designated industrial zones, including those in Mirpur and Muzaffarabad, and enjoys an excellent law and order situation.

Highlighting fiscal incentives, he said that the property tax rate in Azad Kashmir is only 8 percent, which is significantly lower than other parts of the country, making it highly attractive for investors. The combination of low taxation, abundant natural resources, and a peaceful environment, he added, has the potential to turn Azad Kashmir into a competitive business and investment hub.

The adviser said the government is working on new industrial and trade policies aimed at generating employment opportunities and strengthening the regional economy. Inviting KATI members to invest in Azad Kashmir, he assured them of full cooperation and facilitation at every level.

KATI President Muhammad Ikram Rajput said that Sardar Fahad Yaqoob Khan has been entrusted with crucial portfolios such as commerce, industry, labour and manpower, which are central to Azad Kashmir’s economic development, job creation and industrial stability. He termed it encouraging that the AJK leadership is promoting individuals who possess a clear vision for economic growth, industrial development and the welfare of the labour force.

Ikram Rajput announced that a KATI trade delegation would soon visit Azad Kashmir to assess existing business and investment opportunities. He said that following the visit, concrete proposals and practical plans would be formulated to strengthen trade and industrial linkages between Karachi and Azad Kashmir. In this regard, he emphasized that facilitation, incentives and policy support from the AJK government would be of critical importance.

KATI Senior Vice President Zahid Hameed also addressed the gathering, thanked Sardar Fahad Yaqoob Khan for his visit, and expressed optimism that cooperation between the industrial communities of Azad Kashmir and Karachi would further expand in the coming period.

The event was attended by KATI President Muhammad Ikram Rajput, Senior Vice President Zahid Hameed, Vice President Muhammad Talha Ali, former chairman and president Gulzar Firoz, Junaid Naqi, Adviser’s Coordinator Sardar Babar Abbasi, Sardar Maqbool Zaman, spokesperson Hashim Abdali, along with a large number of KATI members.

Copyright Business Recorder, 2025