The Special Investment Facilitation Council (SIFC) is supporting the development of a 250-acre Maqpondass Special Economic Zone (SEZ) in Gilgit-Baltistan as part of efforts to attract investment, create employment and expand industrial activity in the region.
The project is being developed under a public-private partnership and is designed around industries that draw on Gilgit-Baltistan’s local resources and economic potential.
Maqpondass SEZ to Focus on Local Industries
The proposed economic zone will target sectors including agro-processing, minerals, handicrafts and wood-based products.
The initiative is expected to give local businesses greater opportunities to process raw materials locally and produce higher-value goods. It could also help existing enterprises expand while encouraging the establishment of new businesses within the region.
By supporting value-added production, the project aims to move economic activity beyond Pakistan’s traditional industrial centres and create more opportunities for communities in Gilgit-Baltistan.
Strategic Location Near China
The Maqpondass SEZ is strategically located near China, giving the project potential significance for regional trade and connectivity.
Its location could provide opportunities for commercially viable industries focused on local resources as well as businesses targeting domestic and international markets.
The zone is expected to encourage investment in export-oriented and resource-based industries, while improved industrial infrastructure could help businesses connect more effectively with wider markets.
SIFC Coordinates Investment Facilitation
The SIFC is working with relevant stakeholders to support the development of the economic zone and establish conditions that can make the area more attractive to investors.
The council is also seeking to connect emerging investment destinations such as Gilgit-Baltistan with both domestic and international investors.
The approach is intended to help investors identify commercially viable opportunities while supporting industries that can contribute to the region’s long-term economic development.
Jobs and Value Addition Expected
The Maqpondass SEZ is expected to generate employment and increase economic activity by encouraging investment in local industries.
The project could also help businesses move from selling raw or minimally processed products towards higher-value goods, potentially increasing earnings for producers and supporting new supply chains.
For Gilgit-Baltistan, the development represents an effort to build a stronger industrial base around the region’s natural resources while creating new avenues for private-sector investment and employment.
About Tamoor Ahmed
Tamoor Ahmad has been covering politics since 2022.
