Business community invited to establish power generation units in AJK

President Azad Jammu and Kashmir, Sardar Muhammad Yaqoob Khan, invited business community to invest and establish industrial and power generating units in Azad Kashmir. Speaking at a meeting of Site Super Highway Association of Trade and Industry (SSHATI) at a local hotel on Thursday night, he said that Azad Kashmir has immense potential for new investment in various fields.
He was of the view that instead of looking towards foreign investors we must look towards local investors and provide them with necessary facility to invest in Pakistan and Azad Kashmir. He also invited biasness 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. The President said that Kashmir has potential of generation 15,000 to 18,000 power which can be supplied to meet the demand of Pakistan.
Sardar Muhammad Yaqoob Khan said work on 1,000 MW power generating project is in progress and likely to be completed next year. The president further pointed out that Azad Kashmir produced best quality of apple and other fruits and added that a large quantity of its goes waste due to non-availability of cold storage facility.
Chairman SSHATI, Mehtab Chawala expressed concern over flight of capital from Pakistan due to prevailing law-and-order condition, economic crisis, power and gas high tariffs and shortages. However, he was of the view that offering free of cost land and other facilities for establishing industrial units in Azad Kashmir will definitely attract attention of Pakistani investors. He further expressed that giving Most Favoured Nation (MFN) status to India will not have negative impact on Pakistan local industries; on the other hand, Pakistan will get a very big market.