Dr. Kausar Taqdees Gilani highlights the need to rejuvenate the textile sector to prevent it from relocating to other countries like Bangladesh and to increase exports.
LAHORE: (UrduPoint/Pakistan Point News-June 8th, 2024) Dr. Kausar Taqdees Gilani, Minister for Small Industries in Azad Jammu and Kashmir, visited the Lahore Chamber of Commerce and Industry (LCCI), meeting with its President, Kashif Anwar, as well as Executive Committee Member Raja Hassan Akhtar and other prominent members of the Chamber.
Kashif Anwar emphasized the necessity of strengthening the partnership between LCCI and the Azad Kashmir Chamber to boost business activities across the country.
He noted that banks in Azad Kashmir are providing interest-free loans to small industries, a significant initiative driven by the Ministry of Small Industries. This ministry is also key in establishing industrial zones in the region.
Furthermore, a five-year tax exemption in Azad Kashmir offers significant relief to both new and existing businesses, supporting small and medium-sized enterprises.
Highlighting LCCI's dedication to women's empowerment, Anwar mentioned the establishment of the Women Empowerment Lounge and the Women Entrepreneur Counter. For the first time, LCCI organized a Women's Recognition Ceremony with President Dr. Arif Alvi as the chief guest. Anwar underscored the Chamber’s commitment to industry, economic growth, and tax compliance, which are vital for the national economy. Additionally, LCCI has formed partnerships with educational institutions and hospitals to help its members and staff cope with inflation. He stressed the importance of developing water reservoirs and new dams to ensure affordable hydroelectricity and reduce flood risks. Anwar also mentioned LCCI's initiatives for disabled individuals and breast cancer awareness, proposing a memorandum of understanding between LCCI and the Azad Kashmir Chamber for mutual benefits.
Minister Gilani expressed her admiration for LCCI's significant female membership and its status as a historic and leading chamber. She highlighted that 80% of Azad Kashmir's population is educated, with 70% under the age of 35. Providing employment to this young demographic is crucial and can be achieved through enhanced skills and education. She emphasized the importance of leveraging national experiences for the industrialization of Azad Kashmir, with LCCI’s support being vital.
Dr. Gilani highlighted the need to rejuvenate the textile sector to prevent it from relocating to other countries like Bangladesh and to increase exports. She proposed organizing a conference on this issue with participation from all chambers and encouraged businesses from Punjab to engage in exhibitions in Azad Kashmir to support the local economy. Pointing out the lower electricity rates in Azad Kashmir, she emphasized the potential for establishing industries in the region. Additionally, she stressed the need to develop the gemstone and tourism sectors in Azad Kashmir, which hold significant potential.
