Investors, industrialists get special incentives in GB SEZ: CM

Chief Minister (CM) Gilgit Baltistan, Hafiz Hafeezur Rehman on Tuesday said special incentives would be given to investors and industrialists to make investments in Special Economic Zone (SEZ) for promoting economic and business activities in the province.

The CM was addressing the first meeting of Special Economic Authority GB held here under his chairmanship where he was briefed by the Chinese Consultants regarding special economic zones in GB.

With establishment of SEZ, he said economic and business activities would get upward boost besides promoting industrialization in the province.

He maintained that state of the art economic zone at par with an international standard would be setup and federal government has been recommended to provide gas facility through LPG Air-max facility to SEZ.

Inexpensive electricity from other provinces would be provided to investors besides special incentives to them.

The federal government has already announced special incentives for investors interested in installation of industries in the province and special relief was provided on custom duties in exports of machinery for processing industry in Gilgit Baltistan.

The CM directed the department of Mineral, Industries and Chamber of Commerce GB to make arrangements for holding of awareness seminars for provision of information to investors and traders about incentives given by the federal government on different categories.

In this connection, the CM has constituted a high-level committee comprises of secretaries finance, home, water and power and mineral and industries department for evaluation of technical aspect of SEZ.

The GB government is also establishing its own industrial zone so that the facility of one window operation should be given to investors and industrialists making investment in the province.

The CM directed the departments concerned to take measures for activation of industrial zone of the province within a year so that existing small industrial units could be shifted to outside of the city.

The government would ensure provision of all required facilities to small industrialists and investors besides providing congenial atmosphere to local and foreign industrialists.

These endeavors would help promote industries growth and development besides improving the socio-economic conditions of masses.