A delegation of the Faisalabad Chamber of Commerce & Industry (FCCI) will visit Gilgit Baltistan (GB) immediately after Ramazan to review the investment opportunities in this Province, said Shabbir Hussain Chawla FCCI president.
He was talking to a delegation of GB Chamber of Commerce & Industry (GBCCI) that met him under the leadership of its president Nasir Hussain Raki here today.
He said GB is strategically located at the circumjacent of Afghanistan, China and Azad Jammu Kashmir (AJK) in addition to providing road link for the promotion of bilateral trade with these countries.
He said growing trade volume with China after One-Belt-One-Road (OBOR) initiative and construction of Diamer Basha Dam has further enhanced its economic importance.
He said no doubt that GB is a paradise for tourists, hikers and trackers but it also has huge potential for Hydro-Electric projects in addition to exploring precious metals and stones. "However, we need huge investment to commercially exploit these potentialities", he added
He said GBCCI should play a proactive role to attract maximum foreign investment. "It should constitute a special Standing Committee on Investment which should be mandated to provide credible information and guidance about investment opportunities as well as certify the credibility of local stakeholders", he opined and said that it will help potential investors to invest with full peace of mind without any fear of fraud or possibility of high-handedness.
He assured that immediately after this Ramazan, a delegation from Faisalabad will visit GB to personally witness and discuss possible investment opportunities with the members of GBCCI.
Earlier GBCCI president Nasir Hussain Raki briefed him about the investment opportunities available in the field of Hydro generation, tourism, exploration of minerals and development of horticultural sector.
He said many countries are interested to invest in GB but he is of the opinion that Pakistanis should take lead and get maximum benefits from the available investment opportunities.
He told that GBCCI has planned to organize an investment conference and his tour is meant to contact and extend invitation to the potential investors to participate in this conference.
He said that being a bordering area with China, the people of GB are trading with this neighbouring country through century old silk route China under the Barter system. "After the construction of roads, government is now planning to start formal trade with proper enforcement of customs and other laws", he said and added that being an under developed and hard area there is no facility of internet and distribution of electricity and hence the system of (Web Based One Customs) WEBOC is currently not workable in this remote area.
He suggested that the custom check post of Khanjrab should be shifted to Kohistan area enabling the residents of GB to avail the facility of custom free access and in the meantime a proper system should be evolved for this area.
He told that an industrial zone is also being developed at Gilgit where electricity will be available at Rs 2 per unit.
However, he also expressed some reservations about trade with China but said GB is more suitable for the promotion of tourism and in this connection new hotels should be constructed to exploit its tourism potential.
FCCI's former president Engr Sohail Bin Rasheed Haji Muhammad Abid and Secretary General Abid Masood were also present during this meeting.
Later, Engr Sohail Bin Rasheed presented FCCI shield to Nasir Hussain Raki.
FCCI president Shabbir Hussain Chawla also handed over gifts to President GBCCI and other members of the visiting delegation.
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