President Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain has urged Prime Minister Azad Kashmir Raja Muhammad Farooq Haider Khan and other concerned departments for taking measures to attract local and foreign investors.
He said that there are several opportunities for medium and large scale industries in Mirpur and Bhimbher districts of Azad Kashmir. Investment can also be made in the industries including food & bakery, furniture, steel works, crush machineries, poultry farms and hotels.
The veteran business leader while talking to the business community said apart from the restricted industries in Azad Kashmir like arms & ammunitions, security printing & radio-active industry investment can be made in any sector. The investors' friendly industrial policy will play a vital role in the development of industrial, social and economical development of the region.
The government of Azad Kashmir and ministry of commerce and trade have done marvellous job by forming such an excellent industrial policy. Promoting tourism industry in the heavenly region of Kashmir will not only bring revolutionary development in the area but will also enhance the national economy in terms of increased revenue.
The major incentives provided to the investors through Azad Kashmir investment policy are exemption from sales tax on all industrial products for the period of initial five years, availability of industrial plots on easy installments in the industrial estate and easy financing options through leading National Banks and Financial Institutions.
To develop trade and industry a dry-port is under construction in the Mirpur area of Azad Kashmir and 17 vocational and training institutions are available in the region to produce skilled local work-force to reduce cost of doing business in the region, he maintained. To connect the region with CPEC a road connecting Mirpur-Muzaffarabad and Mansehra are under consideration, he added.
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