CPEC to open new avenues of investment in Gilgit Baltistan

ISLAMABAD:

The economic benefits of China-Pakistan Economic Corridor (CPEC) are beginning to emerge in a big way as overseas Pakistanis are pouring investment into Gilgit-Baltistan (G-B) to cash in on the lucrative opportunities in the untapped sectors, speakers said at a webinar.

The webinar entitled ‘Roadshow Webinar, USA, Canada and European Countries’ and organised on Sunday night, was part of the government of Gilgit-Baltistan Investment Conference 2022.

The webinar set the spotlight on G-B’s unique feasibility for harnessing responsible investments into equitable economic opportunities for social prosperity while serving as an excellent networking platform for global, national and regional stakeholders to foster collaborations and businesses.

The speakers said that with the improvement in communication infrastructure due to the construction of motorways and opening of Karakoram Highway under CPEC, domestic tourism is growing at a swift pace, triggering a wave of investment in the tourism sector of northern regions including G-B.

G-B Secretary of Agriculture Khadim Hussain said that in the federal government’s special package for G-B, the foremost importance has been allotted to road infrastructure.

According to him, besides Karakoram Highway, another road has also been approved between Ghizer and Chitral to connect the region with Khyber-Pakhtunkhwa while an additional project is in the offing to link G-B with Punjab via Azad Kashmir.

“G-B will be the gateway of CPEC when it comes to operation,” Hussain added.

He said that the construction of Diamer-Bhasha Dam was in full swing and within a few years, the project would start producing clean energy, adding that there was potential to invest in hydropower projects.

G-B has dynamic tourism potential and provides diverse opportunities for domestic and foreign tourists across the world.

Being home to the world’s highest mountain, G-B peaks and glaciers fascinate adventurers, mountaineers, trekkers, travellers and explorers.

The initiative is aimed at attracting and facilitating investments across key sectors including tourism, renewable energy, minerals and mining, trade, commerce, agribusiness and technology.