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NewsPoor Policies Drive Investors Away from Azad Kashmir, Leading to Unemployment Crisis

Poor Policies Drive Investors Away from Azad Kashmir, Leading to Unemployment Crisis

Muzaffarabad (Azadi Times) – The ill-advised policies of the Azad Kashmir government have sparked a downturn in investor confidence, resulting in the closure of numerous factories and a looming unemployment crisis.

Distressed industrialists in Azad Kashmir are contemplating shutting down their operations and relocating elsewhere due to the protracted closure of factories.

The ongoing sit-in by unemployed individuals has now reached its eighth day, amplifying the plea for urgent action to restore employment opportunities. Families of affected workers are grappling with dire circumstances, with basic necessities becoming increasingly scarce.

The closure of factories in Mirpur and Bhambhar by the Inland Revenue Department has triggered widespread protests among unemployed workers and staff. They denounce the government’s policies as “anti-industrial” and decry the flagrant violation of their basic human rights.

Citizens highlight that despite contributing billions of rupees in taxes annually, their factories have been arbitrarily sealed based on unsubstantiated allegations. The wave of closures has not only crippled existing businesses but has also dissuaded potential investors from engaging in Azad Kashmir’s economy.

Appealing to the Chief Justice, Chief Secretary, and Prime Minister of Azad Kashmir, unemployed citizens demand the immediate reopening of sealed factories to alleviate their plight and ensure the well-being of their families.

The ongoing investigation into alleged financial fraud involving Pakistanis residing abroad in Mirpur has further exacerbated the economic uncertainty. Despite this, no conclusive results have emerged, fueling disillusionment among investors and expatriates alike.

The situation underscores the importance of providing a conducive environment for capitalists worldwide, fostering investment, and economic growth. Instead, the Azad Kashmir government and the Inland Revenue Department stand accused of exacerbating hardships and driving away potential investors through harassment and punitive measures.

Efforts to rectify these policies are imperative to restore investor confidence, revitalize the economy, and mitigate the unfolding humanitarian crisis in Azad Kashmir.

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