Chief Minister NWFP Akram Khan Durrani has said that foreign and domestic investors were in contact with the provincial government, who were desirous to invest in hydropower, mineral and other sectors.
He informed that the government has worked out a mechanism to facilitate the investors, he added.
He was addressing a briefing regarding investment potentials in frontier province, local government system, police order and Bank of Khyber at Frontier House Peshawar.
MNA and Central leader of Muttahida Majlis-i-Amal (MMA) and Amir of JI Qazi Hussain Ahmed, Senior Minister Siraj ul Haq, Speaker Provincial Assembly Bakht Jehan Khan, Provincial Ministers, Chief Secretary and high-ranking officers of the provincial government were also present in the briefing.
Akram Durani said that frontier offered tremendous potential for investment. We have opened up all sectors to the domestic and foreign investment and we would work as facilitation.
Now it was up to the investors to realise the ground realities and invest in frontier province.
His government has already created an investment friendly environment, industrial peace has been revived and better understanding amongst stakeholders was visible.
The Chief Minister said that we are fully aware of the sincerity of the foreign and domestic investors who wanted to invest in frontier province and we knew their sincerity to support the frontier government in its efforts to exploit natural resources that would not only create job opportunities, enhance economic activity but lead to over all development of the province.
He said that the government would respond to the investor's expectations and would provide safety and security to their investment.
The government has already succeeded in improving law and order situation and that is visible.
That he added was the main reason that we were expecting mass scale investment in frontier province.
Akram Durani welcomed the offers made by the investors to invest in frontier province with zero percent interest. This is a welcome gesture because it would provide a base for the prosperity and development of the people and frontier province, he added.
The Chief Minister said that there was an unlimited resource of hydropower generation. However, the frontier government could only generate up to 50 megawatt of electricity through a single project.
Feasibility reports of certain projects were ready and in the same time there were investors who were willing to invest in these projects through public private partnership.
He assured that the provincial government would also enter in such projects with the private sector partnership.
He assured the provincial government would not only lay down necessary infrastructure but would also facilitate the investment and gave the investors unmatched incentives.
He said that the provincial government has already taken in hand the acquisition of Malakand-III project that would only produce 81-megawatt electricity but would contribute Rs one billion annually to the provincial exchequer.
We have already planned industrial states in the area so that the electricity produced could be consumed in the nearby industrial units.
Similar industrial units would be allowed in other areas where the provincial government and even with partnership of private sector would execute hydropower generation projects.
The main purpose of this philosophy was to bring rapid industrialisation in frontier province. His government was also desirous to promote cottage and agro based industries so that the frontier province could match other provinces in industrialisation and hopefully these arrangements would bring economic boom in the area.
There are certain conditions and there should be a power purchasing agreement with Wapda. These are the ground realities.
However, the provincial government instead would offer the electricity produced in such projects to the nearby industrial units so that the momentum of growth could be kept going.
The Chief Minister also highlighted the tea growing culture in Mansehra and
Swat valleys. Both the districts were ideal for the tea growing and we have been encouraging it to produce tea or our own consumption.
Presently, we are spending precious foreign exchange on tea import and if we succeeded in our efforts we would definitely save precious foreign exchange.
MD Bank of Khyber highlighted the performance of the bank adding the bank was constantly making headway. It succeeded in attracting mass scale account holders within a short span of time.
Comments
Comments are closed.