ISLAMABAD: Chairman Federation Pakistan Chamber of Commerce and Industry (FPCCI),Capital office, Qurban Ali said the government 15 percent cut on Gilgit- Baltistan’s annual budget 2022-23 not a good omen for GB’s economy, which is experiencing severe unrest.
The local Annual Development Plan (ADP) in coming budget was also cut , which will slow down the growth process and increase unemployment in the GB , Chairman FPCCI,Qurban Ali said this while talking to the media here.
He said that budget cuts in Gilgit-Baltistan would reduce employment opportunities and increase unemployment in the region.
Qurban said that the suicide rate among the youth in Gilgit-Baltistan has been on the rise for the last several months, which is showing great frustration among the local youth.
Chairman FPCCI said”For the last several months, the suicide rate among the youth in Ghazar district of
Gilgit-Baltistan has been very high as they are fed up with unemployment and economic conditions in the region.”
He said that Gilgit-Baltistan had been ruled by both PML-N and Pakistan Peoples Party (PPP) in the past but was un-expected from both the parties.
He said that during the previous government of Pakistan Tehreek-e-Insaf (PTI), a lot of work was done on tourism in Gilgit-Baltistan and many infrastructure projects were launched.
When the PTI was in Federal government, the number of air-flights in GB increased and at the same time Skardu Airport was approved for international flights.
These major initiatives would open up vast opportunities for business, industry and tourism to flourish in the GB.
He said that special economic package should be given to Gilgit-Baltistan and economic emergency should be implemented there as it is the gateway of China Pakistan Economic Corridor (CPEC).
Chairman FPCCI said”CPEC and Gilgit-Baltistan are inseparable without which the concept of completion of the great project of CPEC would be incomplete.”
He said that work on Gilgit-Baltistan Special Economic Zone (SEZs) which was included in the 9 Special Economic Zones of CPEC is still incomplete.
