Gilgit (PR): The APEX Committee on Investment has approved five strategic projects of Gilgit-Baltistan attract investment from Gulf Cooperation Council (GCC) countries.
According to the details, on the special request of Gilgit-Baltistan government, the high-level investment committee chaired by the Prime Minister of Pakistan has approved five strategic projects of Gilgit-Baltistan.
These projects are expected to revolutionize the region’s energy sector and promote socio-economic development.
Among the projects approved by the committee for investment in the region are 100 MW KIU Power Project worth Rs 84.5 billion, 80 MW Phandar Power Project worth Rs 44 billion, 10 MW Tormic Power Project worth Rs 8 billion, 5 MW Skarkoi Power Project worth Rs 11 billion, Power Project at a cost 40 MW Bishu Power Project of Rs.34 billion.
It is pertinent to note that these strategic plans are a milestone for the sustainable development and energy self-sufficiency of Gilgit-Baltistan and an important step towards strengthening the relationship between Gilgit-Baltistan and the GCC countries.
These projects will also be important in promoting collaborative efforts and strategic investments between G-B and GCC countries.