‘Ease of doing business’: KP CM approves action plan, model

PESHAWAR: Chief Minister Khyber Pakhtunkhwa Mahmood Khan has approved the proposed action plan and model regarding implementation of the phase-II of the Ease of Doing Business initiative and directed that all pre-requisites and interventions be completed well in time to ensure timely launching of the project.

He said that the basic objective of the project is to simplify and streamline the overall business process as per contemporary needs, in order to take advantage of the investment opportunities in various sectors.

Addressing the 10th Board meeting of the Khyber Pakhtunkhwa Board of Investment & Trade, the Chief Minister expressed his satisfaction over the performance of the BOIT and said that the steps taken in the first phase of the Ease of Doing Business have yielded positive results in attracting investors and promoting industrial activities in the province. However, he added that keeping in view the expectations of investors and to meet with the differential needs of industrialization in the province, the immediate launching of the phase-II of Ease of Doing Business Project is of paramount importance for which all the necessary steps should be completed on a fast track basis.

He directed for the capacity building and strengthening of PPP Nodes in the Tourism, Agriculture, Energy & Power and Mines & Minerals Departments by replicating PPP Mode of the P &D Department.

He also directed them to constitute a committee for effective coordination among relevant provincial departments, in addition to laying special focus on the marketing of reform initiatives taken by his government.

The Chief Minister clarified that the provincial government has introduced multiple incentives which have resulted in a substantial increase in industrialization by attracting domestic and foreign investors.

Briefing about the implementation status of decisions taken in the last board meeting, it was informed that an investment committee and a commission have been constituted with the aim of materializing the MoUs signed in Dubai Expo 2020, adding that letters of intents on five different MoUs have also been signed so far.

The meeting was informed that two sole enterprises special economic zones will also be established at DI Khan, which would be presented in the forthcoming meeting of the federal board of approvals for formal approval. These projects are expected to attract a cumulative investment of about $485 million.

Similarly, various plots measuring 20.8 acres in Rashakai Special Economic Zone have been approved for six enterprises with an estimated investment of Rs. 3.6 billion, whereas plots measuring three acres have been approved for two enterprises in Hattar Special Economic Zone, which is expected to have an investment of Rs 129 million.

Additionally, the proposal for giving Special Economic Zone status to the Daraban Economic Zone has also been submitted to the relevant forum. It was told in the meeting that the board of investments and trade has also planned to hold investment seminars and road shows in the near future, which include investment seminars in Sialkot and Karachi, an investment conference in Tajikistan, an investment conference in Peshawar and four road shows related to tourism sectors in Lahore, Karachi, Faisalabad and Sialkot.

Copyright Business Recorder, 2022