Former finance minister Asad Umar has suggested that developing Gilgit-Baltistan’s tourism sector could play a crucial role in boosting Pakistan’s economy and eventually eliminating the need for IMF bailouts. He emphasized that the region’s unique natural beauty, cultural heritage, and adventure tourism potential make it an untapped economic asset capable of attracting millions of local and foreign visitors annually.
According to Umar, strategic investment in infrastructure, hospitality, and eco-tourism in Gilgit-Baltistan could significantly increase foreign exchange earnings, create employment opportunities, and stimulate sustainable regional development. He added that promoting tourism in the northern areas would not only enhance Pakistan’s global image but also diversify its economic base beyond traditional sectors like agriculture and manufacturing.
The former finance minister stressed the importance of public-private partnerships and improved accessibility to fully unlock the region’s potential, arguing that a thriving tourism economy could help Pakistan achieve long-term financial independence and reduce reliance on international financial assistance.
