AJK Business Forum Proposes Measures For Industrial Growth

Mirpur Chamber of Commerce & Industry (AJKCCI) has put forward recommendations to the Azad Jammu Kashmir (AJK) government aimed at accelerating industrial development in the state

MIRPUR, (UrduPoint / Pakistan Point News - 18th Apr, 2024) Mirpur Chamber of Commerce & Industry (AJKCCI) has put forward recommendations to the Azad Jammu Kashmir (AJK) government aimed at accelerating industrial development in the state.

President Sabir Hussain Shah revealed on Thursday that the chamber has urged the government to implement an integrated industrial plan in coordination with relevant authorities to attract local and foreign investment, particularly from the UK-based Pakistani and Kashmiri diaspora.

Key recommendations include devising a strategy to revive over 50 ailing industrial units in Mirpur and Bhimber districts, as well as promoting industrialization across other parts of AJK where necessary facilities are available.

The AJK government has pledged to encourage foreign investment in the trade and industrial sector, allocating significant funds for the ongoing and forthcoming fiscal years.

AJKCCI has also requested the government to provide necessary facilities and compensation to foreign entrepreneurs, including UK-based Kashmiri expatriates, intending to establish industrial ventures in the area.

Shah emphasized the vast potential for investment in hydel power generation, mineral extraction, and tourism sectors in AJK.

Notably, Mirpur is set to host one of the nine proposed Special Economic Zones under the China Pakistan Economic Corridor (CPEC), reflecting the region's strategic importance for economic development.

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