LAHORE, Dec 25 Federal Information Minister Qamar-uz-Zaman Kaira has announced to hold an exhibition and investment conference at the Lahore Chamber from January 4.

Addressing businessmen and industrialists at the LCCI here on Friday he said that Gilgit Baltistan had a potential to produce 40,000 megawatt hydel power and thus offered a huge opportunity to the local investors. It also had matchless potential for tourism, minerals and mines, communication and food industry.

He said that the Chinese investors were already working on various hydropower projects but there was a need to motivate the local investors as well not only for filling the gap between demand and supply but to export the surplus energy produced.

Giving the details on infrastructure development in the area, he said that a three-lane road from Gilgit to Sust Border would be completed by 2011. The new road would help expedite business activity in the region besides opening up of new avenues for potential investors.

The government is also developing an industrial zone on an area of 10,000 kanals with necessary infrastructure and facilities to investors.

He said that the government was also making arrangements for starting flights from Gilgit to Kashgar, Skardu and Kathmandu.

LCCI President Zafar Iqbal Chaudhry said that there was a need for setting up processing and packaging facilities in Northern Areas for checking wastage of fruit produced there in abundance.

Energy, tourism, mines and minerals and communication sectors also required to be focussed on priority basis.