Tuesday, March 23, 2021
Home Latest News Overseas Pakistanis to invest USD 10 million in Gilgit Baltistan’s tourism sector:

Overseas Pakistanis to invest USD 10 million in Gilgit Baltistan’s tourism sector:

Gilgit: According to a source, a company owned by several overseas Pakistani citizens have announced the decision to invest 100 million US Dollars in the province of Gilgit Baltistan for the next 5 years. The company further stated that it plans to fund logistics, tourism, hospitality, agriculture, livestock, and floriculture initiatives in the region.

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Pak Greenland Corporation Director Zulfiqar Momin stated that overseas Pakistanis intended to avail opportunities created in the wake of the multi-billion dollar China-Pakistan Economic Corridor (CPEC) initiative, especially in the agriculture and tourism sectors.

He further stated that his organization had drafted the framework for 2 million US Dollars worth of projects and that the capital required for these schemes had been disbursed to Pakistan through banking channels introduced by the incumbent government.

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Momin also stated that his company intended to launch hotels and agricultural farms in collaboration with the local community and for this purpose, it had introduced ‘land banking’ in Gilgit-Baltistan. The initiatives planned include the production of fresh fruit, dry fruit, dairy, yak meat and trout farming for export purpose.

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