The Chairman of the Board of Investment (BoI), Saleem H Mandviwalla, has proposed to the Chief Minister of Gilgit-Baltistan (G-B) to create a regional office of BoI in G-B to promote investment opportunities and facilitate investors. He said that the region has all opportunities to become an investment haven for the investors, and the present government is evolving new policies to facilitate both local and foreign investments.
He expressed these views during his meeting with Chief Minister of Gilgit-Baltistan Mehdi Shah, says a press release issued here on Friday. The GB Chief Minister said that thermal electricity is not a serious solution to the energy crisis and to ensure cheaper energy, and "our government is working on all hydel power generation projects including Kala Bagh Dam & Monji Dam to give a long-term and permanent solution to the energy crisis".
He said that G-B has the potential to solve the energy crisis of Pakistan with its capacity of 50,000 mw, but the need is to bring serious investors to the region. "Apart from tourism, mining, and food preservation, the area has a very huge potential for cement and herbal sectors. Therefore, the business community should come forward to explore these opportunities offering huge revenues and the present government has given a development package to the area with a view to facilitate the investors and all measures are being taken to turn the area an investment hub and an era of development has been started in Gilgit-Baltistan with serious work on the expansion of Karakorum Highway." he said.-PR
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