Gilgit-Baltistan’s Maqpondass Economic Zone: SIFC Steps Up Efforts

Gilgit: Efforts to establish the Maqpondass Special Economic Zone in Gilgit-Baltistan have been accelerated with the support of the Special Investment Facilitation Council (SIFC), as part of a broader initiative to expand industrial development beyond the country’s traditional industrial centres.

The SIFC is bringing all relevant institutions together on a single platform to ensure the rapid development and timely completion of this important project. The special economic zone, covering 250 acres of land, is being established under a public-private partnership model.

The establishment of the economic zone is expected to attract substantial investment and create new employment opportunities in industries related to agricultural produce, natural minerals, traditional handicrafts and wood products.

According to experts, the Maqpondass Special Economic Zone will help harness the region’s natural potential and provide direct access to nearby Chinese markets. This is expected to promote sustainable trade and economic activity not only in Gilgit-Baltistan but across the wider region.