LCCI emphasizes upon strengthening ties with AJK chamber

Lahore:  Dr. Kausar Taqdees Gilani, the Minister for Small Industries in Azad Jammu and Kashmir, paid a visit to the Lahore Chamber of Commerce and Industry (LCCI) where she met with LCCI President Kashif Anwar. The meeting also included Executive Committee Member Raja Hassan Akhtar and other key members of the Chamber.

In his remarks, Kashif Anwar stressed the importance of bolstering the relationship between the Lahore Chamber and the Azad Kashmir Chamber to enhance business activities nationwide.

He said that banks in Azad Kashmir are offering interest-free loans to small industries, a vital initiative spearheaded by the Ministry of Small Industries. This ministry is also instrumental in developing industrial zones in the region. Additionally, a five-year tax exemption in Azad Kashmir offers substantial relief to both existing and new businesses. Anwar pointed out that these measures significantly support small and medium-sized enterprises.

Anwar highlighted LCCI's commitment to women's empowerment, including the creation of the Women Empowerment Lounge and the Women Entrepreneur Counter. For the first time, LCCI hosted the Women's Recognition Ceremony with President Dr. Arif Alvi as the chief guest. He underscored the Chamber’s dedication to supporting industry, the economy, and tax compliance, which are crucial for national economic health. LCCI has also forged partnerships with educational institutions and hospitals to alleviate inflation pressures on its members and staff. Emphasizing the need for water reservoirs and new dams, Anwar pointed out the benefits of affordable hydroelectricity and flood risk mitigation. He also mentioned LCCI's initiatives for disabled individuals and breast cancer awareness, suggesting that a memorandum of understanding between the Lahore Chamber and the Azad Kashmir Chamber would benefit both regions.

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 stressed the importance of drawing on national experiences for the industrialization of Azad Kashmir, with LCCI’s support being vital.

Dr. Gilani pointed out the need to revive the textile sector to prevent the market from shifting to other countries like Bangladesh and to boost exports. She proposed organizing a conference on this issue with all chambers and encouraged Punjab businesses to participate in exhibitions in Azad Kashmir to support the local economy.

Noting the lower electricity rates in Azad Kashmir, she highlighted the potential for establishing industries in the region.

Additionally, she emphasized the opportunities in the gemstone and tourism sectors in Azad Kashmir, which require further development.