Islamabad:The Special Investment Facilitation Council (SIFC) is coordinating efforts to develop the Maqpondass Special Economic Zone (SEZ) in Gilgit-Baltistan, with the aim of promoting industrial activity beyond Pakistan’s traditional economic centres and unlocking the region’s investment potential.
Spread over 250 acres and being developed through a public-private partnership, the SEZ is designed to support investment in sectors aligned with Gilgit-Baltistan’s natural and economic strengths, said SIFC press release issued here Thursday.
According to the press release, the key areas include agro-processing, minerals, handicrafts and wood-based products, offering opportunities for value addition, enterprise development and employment generation.
With its strategic location and proximity to China, the Maqpondass SEZ provides a strong platform for developing commercially viable industries, strengthening regional connectivity and encouraging investment in export-oriented and resource-based activities.
Through its facilitation and coordination role, SIFC has been bringing relevant stakeholders together to support the development of the zone and create an enabling environment for investors.
The initiative reflects SIFC’s broader focus on promoting balanced industrial growth, leveraging regional resources and connecting emerging investment destinations with domestic and international investors.
The development of Maqpondass SEZ is expected to contribute to local economic activity, employment generation, value addition and investment-led growth in Gilgit-Baltistan, while further strengthening Pakistan’s proposition as an attractive destination for investment.