Masood invites investors to tap investment opportunities in AJK

Islamabad:Azad Jammu and Kashmir (AJK) President Sardar Masood Khan said that AJK possessed huge investment potential in almost every sector of economy and invited Pakistani investors to tap all investment opportunities in AJK for earning lucrative results. He said that the US$5 billion AJK economy has the potential to grow into US$20-30 billion economy within 10 years, which showed its attractiveness for investors.

He said that AJK has the potential to become an engine of growth for Pakistan. He expressed these views while addressing the business community at Islamabad Chamber of Commerce & Industry (ICCI). Representatives of Mirpur, Jhelum, Sialkot, Gujranwala, Bhawalpur and Karachi Chambers of Commerce & Industry also joined the session through a zoom meeting.

He announced that he would host a delegation of Pakistani business community led by ICCI President Sardar Yasir Ilyas Khan in AJK to show them business and investment potential in AJK. He also paid tributes to Sardar Muhammad Ilyas Khan, Chairman, Sardar Group of Companies and father of Sardar Yasir Ilyas Khan for his entrepreneurial achievements as he has made huge investments in Pakistan and AJK providing jobs to several thousand people and was making significant contribution to tax revenue of the country.

Speaking at the occasion, ICCI President said that immense tourism potential in AJK still remained untapped and the government should focus on developing modern tourism infrastructure to attract more tourists. He said that promoting tourism in AJK would contribute effectively towards strengthening the economy as it would attract investment, create new jobs, reduce unemployment and generate tax revenue.

Mian Akram Farid Chairman Founder Group said that sales tax exemption has been withdrawn in AJK and this decision should be revised to facilitate the businessmen in AJK.

Zafar Bakhtawari Convener ICCI Kashmir Cause Committee and Chairman D.Watson Group said that major cities of AJK should be connected with air links and a Kashmir Liaison Committee comprising the business community of Pakistan should be formed to tap investment potential in AJK. He announced that D.Watson would open its branches in Muzaffarabad and Mirpur soon. The representatives of other Chambers of Commerce & Industry also shared ideas for creating a conducive environment for business and investment in AJK.