Turkish investors show interest in Khyber Pakhtunkhwa energy sector

The visiting Turkish investors' team has shown keen interest in energy and construction sectors of Khyber Pakhtunkhwa. The investors were talking to Khyber Pakhtunkhwa Minister for Industries, Syed Ahmad Hussein Shah and Minister for Law and Parliamentary Affairs, Arshad Abdullah at a dinner held in honour of the Turkish guests Sunday.
Ghulam Dastgir, a young businessman hosted the dinner for the visiting investors and local businessmen. Those who attended included provincial chief of Small & Medium Enterprises Development Authority (Smeda), Javed Iqbal Khattak, Managing Director, Bank of Khyber, Bilal Mustafa, former presidents, Sarhad Chamber of Commerce & Industry (SCCI), Adeel Rauf, Riaz Arshad, Noman Wazir and others.
Talking to the Turkish investors, Provincial Minister for Industries, Syed Ahmad Hussein Shah said the provincial government had planned setting up of Pak-Turk Industrial Zone on the pattern of Pak-China Industrial Zone in the province. The scheme, he said would be included in the next Annual Development Programme of the province.
The investors on the occasion inquired about the potential and beneficial sectors for investment. They were informed that presently Pakistan in general and Khyber Pakhtunkhwa in particular require investment in energy sector to overcome the prevailing shortage and manufacturing construction material and technology.
They were informed that after the devastated earthquake of 2005, the provincial government now instead of heavy material is using hollow material in construction of buildings. He said the import of latest technology to Pakistan would help promote this sector in the country. Provincial minister for law and parliamentary affairs, Arshad Abdullah informed the delegation about the potential of the oil and gas sector, saying that the government is setting up its own company in this regard. He offered Turkish investors joint ventures in the fields of oil and gas in the province.
He said Pakistan is spending a significant portion of its foreign exchange reserves on the import of oil as the local production is about 23 percent and remaining over 70 percent is imported. He said the provincial government has started giving priority to the development of oil and gas sector. He assured the delegation that the provincial government would provide all possible facilities to foreign investors.