Azad Jammu and Kashmir (AJK) has the potential to generate 9,000MW of hydroelectric power that will end load-shedding in Pakistan and benefit its businesses and industries, said AJK President Barrister Sultan Mehmood Chaudhry.
Addressing the business community at Islamabad Chamber of Commerce and Industry (ICCI) on Monday, he said that the region has huge potential for joint ventures and investment in many sectors including hydropower generation, precious stones, gems and jewellery and tourism.
Chaudhry invited the business community of Islamabad to capitalise on those opportunities for achieving lucrative outcomes and said that AJK government would fully facilitate them.
He said that Pakistan could benefit from its rich mineral deposits and abundant hydropower resources to meet its energy needs through joint ventures.
He invited private sector companies of Pakistan to explore the opportunities by setting up small hydropower projects in the region.
The AJK president emphasised that making Pakistan a strong economy should be the paramount priority of the rulers. Furthermore, he stressed that an economically strong Pakistan would be a source of strength for the people of Indian-occupied Kashmir.
Speaking on the occasion, ICCI President Muhammad Shakeel Munir said that the business community was keen to explore opportunities of business and investment in AJK and the AJK Board of Investment should facilitate them in such efforts.
He demanded that the AJK government offer attractive incentives to ICCI members for JVs and investment in AJK so that the economy of the region could grow fast and create more jobs for the youth.
ICCI Senior Vice President Jamshaid Akhtar Sheikh, Vice President Faheem Khan and others also spoke on the occasion.
They proposed the constitution of a joint committee comprising representatives of AJK government and ICCI to facilitate the business community in exploring business and investment opportunities in Azad Jammu and Kashmir.