KP Govt unveils incentives to promote industrial development

PESHAWAR: Special Assistant to Chief Minister on Industries Abdul Karim Khan on Wednesday said the provincial government had announced a number of incentives for the promotion of industrial development in the province.

He said that under the new industrial development policy, the government would give 25 percent subsidy on the cost of land and 25 percent payment on electricity bills for three years.A handout said that he was talking to a delegation here.  He said that the youth would be given technical and professional training of international standard so that huge investment could be attracted in industrial sector in the province.  He asked the investors to benefit from government’s incentives. He hoped that the government’s steps would bring industrial revolution in the province.

Abdul Karim Khan said that Rs1.5 billion had been earmarked for 26 schemes of industries sectors.  He said that new industrial zones would be established in Peshawar.  He said the establishment of Economic Zone Development and Management Company was a step in the right direction under government’s industrial policy.

He said that now the responsibility of establishing industrial areas and its management had been handed over to sovereign administration and the Economic Zone Development and Management Company had taken number of practical steps to invite investors and facilitate them in establishing industries.

He said 424 acre of land had been purchased for extending Hattar industrial Estate and the investors have shown interest in investing Rs30 billion in the project.  He said one thousand acre land had been purchased for establishing industrial estate in Rashakai, which would create new employment opportunities.

He said there were a number of opportunities of promotion of industries in Mansehra and Chitral and the government had approved schemes for establishing industrial estates in these areas and land was being acquired.