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January 12, 2020

Govt providing conducive environment to investors: KP CM Mahmood Khan

National

January 12, 2020

PESHAWAR: Chief Minister Mahmood Khan said on Saturday that the government was committed to providing conducive environment to investors in the province.

An official handout said that he was chairing a meeting of the public private partnership committee about approval of revised concession agreement for Rashakai Special Economic Zone.

The meeting was told that the concession and development agreements of Rashakai Special Economic Zone have been closed and the multi-million dollar project is expected to be inaugurated soon.

It will mark the commencement of rapid and extensive industrialisation programme of the provincial government in the province.

The chief minister said that multiple initiatives had been undertaken including strengthening of communication networks in the province and provision of cheap electricity to industrial consumers through wheeling of electricity.

He stated the government was focusing on revenue generation by exploiting the strategic location, natural resources and business-friendly environment of the province.

The Rashakai Special Economic Zone would play an important role in the rapid investment and industrialisation, he added.

Mahmood Khan said this project was the top most priority of both the governments of Khyber Pakhtunkhwa and China under the CPEC framework.

"This project not only will promote industrialization but will also create tremendous employment opportunities for the province," he added.

As per details of the project, the economic zone will be established over an area of 1000 acres for which the provision of electricity by the federal government will be provided in three phases.

The Departmental Development Working Party (DDWP) has approved the PC-1 for provision of electricity. It will cost Rs1,825.79 million under which provision of 210 megawatts electricity will be ensured in three phases.

About 10 megawatt of electricity will be provided by 29 Feb, 70 megawatts by December of the ongoing year whereas the remaining 80 MW will be provided by Dec 2021.

As for the provision of gas, the PC-1 amounting to Rs1,203 million has also been approved during the DDWP meeting held last month whereas work has already been initiated on phase 1 regarding the establishment of access roads i.e from Wali Interchange (on Peshawar-Islamabad Motorway) to zero point of the economic zone.