Incentives luring foreign investors to KP

incentives-luring-foreign-investors-to-kp

Incentives luring foreign investors to KP PESHAWAR: Chief Minister Pervez Khattak claimed on Sunday that the incentives announced by his government had been attracting local and foreign investors to contact the relevant departments in the province.

He said that his government had announced attractive package of 5 per cent concession in the interest and 25 per cent rebate on import of machinery to support the industrialists, especially foreign investors.

Speaking at a joint meeting with coalition partners at his office here, the chief minister said that the government was sincere to promote industrial sector in the province and that was why it had already established an independent and autonomous Economic Zones Development and Management Company (EZDMC) to facilitate the investors under one window operation.


Flays centre for focusing on uplift of Punjab only


According to a statement, the meeting was also attended by KP Assembly Speaker Asad Qaisar, senior ministers Inayatullah Khan and Sikandar Hayat Sherpao, and provincial ministers and MPAs.

Mr Khattak said that after the 18th amendment, the provincial government was supposed to promote mutual trade with other countries. He deplored the step-motherly attitude of the federal government for ignoring smaller provinces and focusing only on Punjab.

The chief minister said that he had no option, but to directly approach the foreign investors. He said that after a long struggle he succeeded to convince the federal government on payment of Rs100 billion of which Rs20 billion was spent on debt servicing and the remaining amount would be paid to the province in three equal installments. He said that so far the province had received one installment. Moreover, he said that the KP government actively took up Chashma Lift Canal project and got it approved from the Council of Common Interests.

The federal and provincial governments would bear the expenses at the ratio of 65 per cent and 35 per cent, respectively.

About the Khyber Pakhtunkhwa Ehtesab Commission, the chief minister said that the government believed in across-the-board accountability as meaningful accountability started from top and would automatically trickle down to the grassroots level.

Answering a question, he said that ex-DG Ehetsab Commission had resigned from his position due to certain differences with the commissioners. The government, he said, had never interfered in the affairs of the commission.

About mega development schemes, he said that Hayatabad Flyover was completed in the shortest possible time with a reasonable cost, while work on construction of Swat Motorway was in progress. He said that the 80-kilometre road project also included two tunnels.

Mr Khattak said that work on Kohat bypass road and Haripur bypass road was also in progress that would ease the traffic problem. He said that work on the construction of bridges and widening of roads in the provincial metropolis was also undertaken, while the rapid bus transit project and circular railway project would be started in the end of this year.

He said that various development packages had been announced for three zones of the province that included train, road communication, infrastructure, hydroelectric city, housing, irrigation, oil refinery and cement industry units.

Mr Khattak said that there was no scarcity of funds, but foreign investors would be approached to support mega projects. He said that tourism was flourishing due to improvement in the law and order situation in the province as well as development of the tourism spots.

Source: http://www.dawn.com/news/1284662/incentives-luring-foreign-investors-to-kp-khattak

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