Economic corridor to make Gilgit Biltastan investment heaven

Lahore: Chairman of the United International Group Mian Shahid said China is a trustworthy friend therefore additional steps must be taken to enhance bilateral trade.

Economic corridor will have a positive impact on every person living in Pakistan while it will transform Gilgit-Baltistan into an investment haven, he said,

Talking to Samina Fazil, founder President, Islamabad Women’s Chamber of Commerce and Industry, he said that

Gilgit-Baltistan having an area of 72,000 square miles with around 1.3 million people has the potential for rapid development based on tourism and mining, food processing, dry fruits, gems and jewellery and farming.

The area has enormous hydel power and renewable energy, potential that the government as well as the private sector can exploit.

He lauded the recent Pak-China agreements which will transform Pakistan into an economic power.

Mian Shahid said that Pakistan authorities who see China as an all-weather friend, have been facilitating customs clearance and other formalities for goods moving from the Chinese regions of Kashgar and Sinkyang to the commercial centres of Pakistan but the pace of clearance must be improved.

The economic corridor will incorporate a 2,000-kilometre transport link between Kashgar in northwestern China to the little-used Gwadar port on the Arabian Sea near the border with Iran, he said.