close
Advertisement
Can't connect right now! retry

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!
April 18, 2019

CM special assistant claims $3b investment brought into KP

Peshawar

April 18, 2019

PESHAWAR: Special Assistant to Chief Minister on Industries, Commerce and Labour, Abdul Karim, has claimed the provincial government has brought $3 billion into the province and the merged districts will remain central to the government development strategy.

Talking to this scribe, he said Khyber Pakhtunkhwa has become an ideal destination for investors and so far the provincial government has succeeded in fetching $3 billion to the province.

Major industrial and business groups are coming to the province due to the policies of the Pakistan Tehreek-e-Insaf (PTI) government, Special Assistant to Chief Minister on Industries, Commerce and Labour, Abdul Karim added.

The special assistant to chief minister said the work on 20,000 barrel capacity refinery has been started by Sheikh Zafar Group, which was invited to invest in the province during the Dubai Road Show held by the previous PTI-led coalition government in the province.

The Sapphire Group has arrived KP, Facto, Fatima, Saif and Askari are investing in the province, while only yesterday the Maharaja and another well-known group started investing in the province, Abdul Karim said.

Similarly, the Chinese groups are taking a keen interest in investing in KP. “One of such groups is investing $200 million in Nowshera district and we have also invited another group to invest and revive a sick unit in the district,” he added.

However, he admitted that there were some issues of ease-of-doing-business, but the government was keen on resolving the problems to provide all possible facilities to the investors.

“Our rivals keep on saying that we are not doing anything for wealth generation and investment, the interest of these investors is the best manifestation of our efforts we are making to strengthen the economy,” he argued.

To a question, the special assistant said that the KP government was well aware of the province’s economic potential.

“We have completed all the formalities to utilise the electricity produced by the province locally on cheaper rates.

It will also lure foreign investment besides supporting the local industrialists”, Special Assistant to Chief Minister on Industries, Commerce and Labour, Abdul Karim said.

About the dwindling Pak-Afghan trade, he said, boosting cross-border trade would be PTI slogan and agenda for the upcoming elections (polls in the merged districts) and our candidates would strive for the operationalisation of the border crossings and Customs stations along the border with Afghanistan.

He said Prime Minister Imran Khan had given six months to the quarters concerned to ensure the 24/7 operation at the Torkham border crossing and two months of the deadline have already passed.

The government has already approved Rs119.804 million to ensure round the clock operationalisation of Torkham border in district Khyber, he added.

The special assistant said the incumbent government is focusing on the development of resources in the merged districts. “We have already energized power grid for the Mohmand Industrial Estate and we are in the process of showcasing plots and other incentives to the local investors next week there, he pointed out.

To another question, Abdul Karim said 142 industrial units were functional in the Gadoon Industrial Estate which had once become a graveyard for industries.

Special Assistant to Chief Minister on Industries, Commerce and Labour, Abdul Karim also spoke of streamlining of the decades-old arms industry of Darra Adamkhel and said that they were looking into the possibilities of finalizing joint ventures with the arms manufacturers of Darra to establish a hunting arms industrial estate and make their products exportable.

“Similarly, we are going to hold meetings with the manufacturers in Gujar Gahri in Mardan which we consider as our small “Gujranwala” and Islampura garment and other manufacturers to consult them as to how we could improve their expertise and products,” he added.

Topstory minus plus

Opinion minus plus

Newspost minus plus

Editorial minus plus

National minus plus

World minus plus

Sports minus plus

Business minus plus

Karachi minus plus

Lahore minus plus

Islamabad minus plus

Peshawar minus plus