The Korangi Association of Trade and Industry (KATI) will soon dispatch a trade delegation to Azad Jammu and Kashmir (AJK) to assess investment prospects, a move aimed at forging stronger economic ties and leveraging the region”s potential as a gateway to Central Asian markets.
According to information by KATI on Tuesday, the announcement came during a ceremony where the Adviser to the AJK Prime Minister on Commerce, Industry and Labour, Sardar Fahad Yaqoob Khan, addressed industrialists, highlighting that establishing industrial units in Azad Kashmir could significantly enhance bilateral and regional commerce.
Sardar Fahad Yaqoob Khan told the gathering at KATI that the AJK government is actively promoting business activities through investor-friendly policies. He extended an invitation to the Karachi-based industrialists to explore opportunities in the region”s six designated industrial zones, including those in Mirpur and Muzaffarabad.
Outlining the fiscal incentives, the adviser noted that Azad Kashmir offers a highly competitive environment, citing an “excellent law and order situation” and a property tax rate of just 8 per cent, which he described as considerably lower than in other parts of the country.
He stated that the combination of low taxation, abundant natural resources, and a peaceful environment has the potential to transform Azad Kashmir into a competitive business hub. Investment is also being encouraged in the energy, tourism, and hydropower sectors as part of a strategy to generate employment and fortify the regional economy.
In his address, KATI President Muhammad Ikram Rajput confirmed the planned visit, stating that the delegation would evaluate existing business and investment opportunities. He explained that this would be followed by the formulation of “concrete proposals and practical plans” to strengthen commercial linkages.
Mr Rajput emphasised that facilitation, incentives, and policy support from the AJK government would be of “critical importance” for the success of these ventures. He commended the AJK leadership for its clear vision for economic growth and industrial development.
The event was also attended by KATI’s Senior Vice President Zahid Hameed and Vice President Muhammad Talha Ali, among other prominent members of the business community. Mr Hameed expressed optimism that cooperation between the industrial communities of Azad Kashmir and Karachi would expand in the future.