LAHORE - Governor Gilgit-Baltistan Dr Shama Khalid has said the government is evolving a ten-year tax-free policy for investors as soon as the modalities are finalized, the policy would be announced. She was speaking at the Lahore Chamber of Commerce and Industry on Tuesday. LCCI President Zafar Iqbal Chaudhry, Senior Vice President Ejaz A Mumtaz, Advisor to Governor Gilgit-Baltistan Mian Shafqat Ali, former LCCI Presidents Shahid Hassan Sheikh and Mian Muzaffar Ali also spoke on the occasion. She said that Gilgit-Baltistan has all the ingredients to become an investment heaven for the investors and the present government is evolving new policies to facilitate both the local and foreign investments. The Governor Gilgit-Baltistan said that unlike the past the present government had given a serious thought to the Infrastructure development, Education and Health to alleviate the sufferings of the people that had been facing multiple problems for the last many decades. She said that an era of development had been started in Gilgit-Baltistan with serious work on Basha Dam, detailed engineering of Monji Dam and in the shape of expansion of Karakorum Highway. She said that apart from Tourism, Mining, Food preservation, the area has a very huge potential for Cement and Herbal sectors therefore the business community should come forward to explore these opportunities that offer a huge dividend. She said that the Prime Minister had given a development package to the area with a view to facilitate the investors and all measures were being taken to turn the area an investment hub. Speaking on the Occasion, the LCCI President Zafar Iqbal Chaudhry and Senior Vice President Ejaz A Mumtaz said that in Gilgit-Baltistan sectors like hydro energy, dry food, and precious stones are the actual treasure which, if thoroughly tapped, will change the fate of this region. They said that the members of the Lahore Chamber of Commerce and Industry had signed 53 Memoranda of Understanding with the government of Gilgit-Baltistan that would pave way for future investment in that area. They said that the Memoranda of Understanding inked in the areas including Hydel Power, Tourism, Minerals & Mining, Agriculture, Agriculture Research, Poultry, Hand-knotted carpets, Plastic, Pharmaceuticals, Textile, Construction, Fruit, Vegetable processing, Vocational Training, Electrical and Gas Appliances, Leather Products, Biotechnology, Housing and Planning, Dying & Printing, Juices and Canned Food, Hybrid Vegetable Seed Production, Potato Seed Production, Paints & Varnish, Paper and paperboard, Pre-cast Concrete, Power Panels, consultancy services and Chemicals would go a long way in the economic revival of the area. They said that the investment in Gilgit-Baltistan would not only be beneficial to that particular area but it would also help strengthen the economy of the country. They said that because of ideally suited climate and abundant water resources both the agriculture and livestock have marvellous chances for vertical and horizontal expansion but unfortunately the sectors could not be developed to the desired levels for want of due participation of the private sector. They said that the Lahore Chamber of Commerce and Industry had decided to hold an Ambassadors Conference in Gilgit-Baltistan wherein all the foreign diplomats would be given detailed briefing about hidden treasures of Gilgit-Baltistan. The very objective of arranging Ambassadors Conference is to give awareness to the foreign diplomats about the potentials of Gilgit-Bltistan so that they could be able attract investment from their respective countries.