Today marks a first in the history of Khyber Pakhtunkhwa. The provinces first international investment and trade road show is taking place in Dubai and aims to showcase the positives in a province that has generally made international headlines for unfortunate incidents of militancy and extremism.
During the road show, the KP Board of Investment and Trade (KPBOIT) will seek to highlight investment opportunities within five distinct industries; oil and gas exploration, mineral excavation, tourism, hydel power and manufacturing industry.
The potential within the hydel power sector is particularly mentionable. A dozen rivers; Kabul, Swat, Chitral, Kunhar, Siran, Panjkura, Baara, Kurram, Dor, Haru, Gomal and Zhob; all flow through the province collectively tallying a potential hydel power generation capacity up to 30,000MW; as per Khyber Pakhtunkhwa Energy Development Organization.
Although this tally may be contestable; the success story of the New Bong Escape Hydroelectric Power Complex in Azad Jammu and Kashmir is worth highlighting during the road show which commenced operations in 2013.
By comparison, the legal framework in KPK is less complex, according to a source privy to Laraibs project. He pointed out investment friendly changes to the provinces energy policy citing the removal of bar of 50MW on the issuance of LOI by provincial government, and the introduction of tripartite agreements that facilitate the raising of loans.
Sitting at the base of the Hindu Kush mountain range, the province also boasts vast potential for tourism industry to develop five star resorts, theme parks, cable cars and restoration of archaeological sites across the province. However, these opportunities are intrinsically linked to lasting peace and enforcement of law and order in the restive regions of the province.
For its part, the provincial government is keen to promote investments to the region that has historically suffered from domestic capital flight. The provinces share in total bank advances has shrunk in recent years even as its share in total bank deposits has registered up tick. In a promotional video circulated in the run up to the road show, Chief Minister KPK, Pervez Khattak has pledged an open door policy for addressing concerns of investors and utmost support for international investors.
The province has been worst affected by the long-drawn and bloody history of extremism and militancy. The provincial governments efforts to lure in investors will doubtlessly be challenged by this baggage. But there is a newfound, national consensus to take on the beast of militancy and the country's civilian leadership and military brass are unequivocal on taking the fight to extremists. Investments in the region can soon yield a peace dividend and those who decide to place their bets now may well be rewarded handsomely as peace prevails in this resourceful region.
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