The provincial government of Khyber Pakhtunkhwa is preparing first-ever foreign investment policy to facilitate investment processes and investor groups in the province. For this purpose, the provincial had tasked Planning and Development (P&D) Department to prepare the policy, said White Paper on the provincial budget of financial year 2017-18.
Core objective of the policy include expansion of mega infrastructure, bringing new skills in line with modern technology and increasing access to international markets with a focus on economic growth. Under the policy, the provincial government facilitates investors through a one-window operation support and incentive based investment schemes.
A Foreign Investment Desk will be established, which will facilitate all foreign investors in major international languages. It is also being ensured that the right to make use of immovable assets rest with the investors in the period of Public Private Partnership (PPP) agreement for hydroelectric and infrastructure projects under the PPP preferably BOT remains with investors for the duration of the BOT agreement.
The prioritised sectors under the investment policy includes promotion of tourism and allied sectors, exploring new avenues for manufacturing sector, generation and transmission of hydroelectricity, expansion of mass transit and transport infrastructure, development of agricultural industries and food processing units, installation of new cement plants in all different potential areas, exploration and modernisation of oil and gas sector and exploration and modernisation of mines and mineral sector.
The overall portfolio of foreign aid during 2016-17 was to the tone of Rs 36 billion. This development cooperation was focused on a number of sectors including education, infrastructure, health, agriculture, governance, industries etc as well as part of this aid was directed towards relief programme.
The Department for International Development (DFID) invested Rs 6658.797 million to improve education, security, governance and roads. In the agriculture sector, US Agency for International Development (USAID) is focusing on improving irrigation system and water management besides municipal services and local governance.
The government of Khyber Pakhtunkhwa articulated "flagship projects" as a key priority and development partners are being attracting for technical and financial assistance in these key priority areas. Feasibility/study of mega hydel projects in the province has been shared with potential donors/ investors to exploit this opportunity for revenue generation and public welfare.
Local government investment in the province focuses on supporting the government's capacity to deliver quality services in the province. The European Union (EU), USAID and United Nations Development Programme (UNDP) are working with their government counterparts in enhancing the capacity of local governance for better services and general public.
Similarly, Japan International Cooperation Agency (JICA) is continuing its grant support to promote carp fisheries and gravity water supply scheme in the hilly district of Mansehra while Multi-Donor Trust Fund (MDTF) has invested Rs 1327.368 million in Khyber Pakhtunkhwa to strengthen governance, promote livelihoods and develop infrastructure through community-driven development models. KFW is marking particular efforts in infrastructure development.
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