Special Economic Zone to be established in Mirpur: PBF.

ISLAMABAD -- Pakistan Businesses Forum (PBF) on Wednesday has stressed upon the need to chalk out a comprehensive strategy to turn the Azad Jammu Kashmir into 'economic engine' of Pakistan through China-Pakistan Economic Corridor (CPEC) related projects.

Under the CPEC, nine special economic zones would be established across the country, including one in Mirpur, Azad Kashmir for which 1,185 acres of land has already been identified, said the president, adding that 571 acres of land would be acquired in the first phase and 614 acres in the second.

President PBF Sahibzada Mian Usman Zulfiqar said the Azad Jammu Kashmir owing to its huge youth bulge, high literacy rate, growing purchasing power parity, skilled workforce, and availability of raw materials, makes it fertile for economic investment. He said that currently, Azad Kashmir's local industries are producing textile, paper, pharmaceuticals, automobile tires, rubber, plastic, piping, shoes, furniture, construction material, edibles, and handicrafts. The PBF asked Pakistanis investors from specialized industries to explore the potential of AJK's growing market. He said that under the China Pakistan Economic Corridor, a state of the art Special Economic Zone will be established in Mirpur which will facilitate investors and budding entrepreneurs including to explore opportunities in AJK's growing tourism industry. He also highlighted that Corporate Social Responsibility (CSR) must be a priority for private sector corporations and 2% of their net profits should be allocated...