While declaring the region as a special economic zone, Azad Jammu and Kashmir (AJK) government has announced 100 percent tax holiday and free of cost land for new industrial units to attract investment.
Minister for Finance Abdul Majid Khan flanked with Chairman Central Board of Revenue (CBR) Raja Amjad Pervez and Secretary Industry Wajahat Rasheed Baig told in a presser here evening that the decision had been taken after a successful investment conference, a day earlier at capital.
He said that 16 memorandum of understanding (MoUs) were signed with different investors belonging to Faisalabad Chamber of Commerce and Industry regarding investment in the region and he would visit other chambers of the country to invite businessmen to avail the opportunity.
He said that the incentives had been given more than that of offered in erstwhile federally administrated tribal areas (FATA) by the federal government and other advantages like scenic beauty, environment and peace would be added attraction for businessmen to invest here.
He said seven industrial estates in AJK were abandoned since long and government was going to revive sick industrial units besides establishing newer ones and activating dry port at Mirpur to boost economy and create job opportunities.—APP
