Gilgit: A company owned by several overseas Pakistanis has announced its decision to invest USD 10 million in Gilgit-Baltistan (GB) during the next five years; further stating that it plans to fund logistics, tourism, hospitality, agriculture, livestock, and floriculture initiatives in the region, according to a news source.
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 agriculture and tourism sectors.
He further stated that his organization had drafted the framework for USD 2 million worth of projects and that the capital required for these schemes had been disbursed to Pakistan through banking channels introduced by the incumbent government.
Momin said 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 production of fresh fruit, dry fruit, dairy, yak meat and trout farming for export purpose.