Stakeholders provide input to KP draft-investment policy

PESHAWAR:  Experts, development partners and chambers of commerce and industries representatives have made useful suggestions to the draft-investment policy of government of Khyber Pakhtunkhwa.

The suggestions were made during a day-long workshop on finalisation of draft-investment policy of the KP government. The Planning and Development Department of Government of Khyber Pakhtunkhwa had arranged the workshop in Islamabad on Tuesday with the support of the Governance and Policy Project.

Representatives from different diplomatic missions, government entities, investment research institutions, representatives of the corporate sector and academia turned up at the consultative workshop.

Secretary Planning and Development Department, Government of Khyber Pakhtunkhwa, Shahab Ali Shah, in his welcome address said Khyber Pakhtunkhwa had comparative advantages in various sectors.

He said geographic location, natural resources, tourism and youth could be exploited to attract local and international investors which would lead to prosperity, revenue enhancement and job creation. The participants were divided into six working groups for in-depth discussion on different portions of the draft-policy.

Intensive discussion and debates took place and each group came up with suggestions on how to improve the policy to attract investment to the province.The participants recommended a policy which could encourage comparative advantages of KP instead of protected investment policy.

The business community said it was the first serious attempt by a government in the last 70 years of the province history to address issues of the economy to attract the investment in the province.

It was noted that investment policy would give legal protection to the investors as well as strategic guidelines and facilitate the national and international investors.

This investment policy would have advantages after its implementation as this was not being made in isolation and every sector was given full opportunities to take part in drafting and finalisation of the investment policy before the cabinet approval.

Every potential of the KP weather hydel, energy, power, mines, agriculture, IT and industries would be fully utilised to the benefits of the people of Khyber Pakhtunkhwa.

The secretary Planning & Development Department in his concluding remarks said experts and representatives from different sectors would be incorporated in the policy and presented to the cabinet and later provincial assembly to make it an act.