G-B announces 10-year tax holiday for investors

Lowest electricity tariff offered.

LAHORE: Gilgit-Baltistan (G-B) Chief Minister Syed Mehdi Shah has announced a 10- year tax holiday for all investments in the area, which has the potential to become an investment-haven for local and foreign investors.

Speaking at the Lahore Chamber of Commerce and Industry (LCCI) on Friday, Shah promised maximum cooperation to all investors who would be investing in Gilgit-Baltistan and cited that electricity tariffs for industrial consumers in the region was the lowest in the country at Rs3.04 per unit.

He said organic farming has huge potential to attract investment because of hardworking human resources and a low crime rate in all seven districts of G-B.

He said the government had given a serious thought to the development of the area to alleviate the sufferings of people that had been facing multiple problems for the last many decades.

The LCCI had signed 43 memoranda of understanding with the government of Gilgit-Baltistan which would pave the way for future investment in the area, he added.

Published in The Express Tribune, December 4^th, 2010.