Economy and Resources
In the mid-1950s various economic and social development processes were launched in Azad Kashmir. In the 1960s, with the construction of the Mangla Dam in Mirpur District, the Azad Jammu and Kashmir Government began to receive royalties from the Pakistani government for electricity the dam provided to the nation. During the mid-2000s a multi-billion dollar reconstruction began in the aftermath of the 2005 Kashmir earthquake.
Agriculture is a part of Azad Kashmir's economy; low-lying areas that have high populations grow crops like barley, mangoes, millet, corn (maize), and wheat, and also raise cattle. In the more elevated areas that are less populated and are spread out, forestry, corn and livestock are the source of living.
There are some mineral and marble resources in Azad Kashmir close to Mirpur and Muzaffarabad; there are also some graphite deposits at Mohriwali. There are some reservoirs of low-grade coal, chalk, bauxite, and zircon. Local household industries produce carved wooden objects, textiles, and dhurrie carpets. There is also an art and craft industry that produces such cultural goods as: namdas, shawls, pashmina, pherans, Papier-mâché, basketry copper, rugs, wood carving, silk and woolen clothing, patto, carpet, namda gubba and silverware. Agricultural goods produced in the region include: mushrooms, honey, walnuts, apples, cherries, medicinal herbs and plants, resin, deodar, kail, chir, fir, maple and ash timber.
In addition to agriculture, textiles, arts and crafts, remittances have played a major role in the economy of Azad Kashmir. One analyst estimated that the figure for Azad Kashmir was 25.1% in 2001; for household annual income, those people living in higher areas are more dependent on remittance than lower areas.
In the latter part of 2006, billions of dollars for development were mooted by international aid agencies for the reconstruction and rehabilitation of earthquake-hit zones in Azad Kashmir, though much of that amount was subsequently lost in bureaucratic channels, leading to delay in help reaching the most needy, and hundreds of people continued to live in tents long after the earthquake. A land-use plan for the city of Muzaffarabad was prepared by the Japan International Cooperation Agency.
Remittance by British Pakistanis forms an important part of the Kashmiri economy.
Read more about this topic: Azad Kashmir
Famous quotes containing the words economy and, economy and/or resources:
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“I am willing to pledge myself that if the time should ever come that the voluntary agencies of the country together with the local and state governments are unable to find resources with which to prevent hunger and suffering ... I will ask the aid of every resource of the Federal Government.... I have the faith in the American people that such a day will not come.”
—Herbert Hoover (1874–1964)