Moderators stress on significance of tourism, education in GB

Peshawar     -    The moderators of the two-day conference emphasized the significance of the main markets, such as tourism, construction, and education, in the Gilgit-Baltistan region. They acknowledged that like other places, Gilgit- Baltistan also faces regulatory challenges.

The two-day conference, titled “Gilgit-Baltistan Beyond Mountains,” was hosted by the Pakistan Institute of Development Economics (PIDE) in collaboration with the Karakoram International University (KIU), Gilgit, and concluded on Thursday.

Dr Nadeem ul Haq and VC KIU shared their insights on the first day of the conference. The panel discussion on “Markets, Regulations, and Border Trade” was moderated by Dr Ahmed Waqas. Speakers from Gilgit-Baltistan shed light on how markets, regulations, and border trade can contribute to the region’s economy.

Aziz Ali highlighted the two prominent models in the political and economic spheres: socialist and liberal. Other speakers emphasized that Gilgit-Baltistan is an exceptional destination with more to offer than just tourism. The focus is on improving the market structure, including the real estate market. However, government regulations have posed challenges in land development. Unfortunately, the absence of a proper market concept and stringent government regulations discourage new entrepreneurs from entering the market. Thus, there is a commitment to addressing these challenges and creating a more prosperous business landscape.

The session concluded with the moderator reiterating the need to pay special attention to the main markets, namely tourism, construction, and education, in the region. It was acknowledged that Gilgit-Baltistan, like other places, faces regulatory problems.

During the session on “Perpetual Energy Crisis,” speakers emphasized the urgent attention required from the authorities to address the ongoing energy crisis in Gilgit.

Liro Ersado, a representative of the World Bank, presented “World Bank: State of Human Capital in Pakistan” and highlighted the need for Pakistan to establish safe and supportive schools.

While moderating the session “Education for the Next Century,” Dr Shujaat Farooq, Dean of PIDE, emphasized that countries investing in education tend to experience higher rates of economic growth and social progress.

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