NWFP Chief Minister Akram Khan Durrani on Monday directed the Sarhad Hydel Development Organisation (Shydo) to lease out attractive hydel power sites to potential investors.
He said the provincial government wanted to encourage potential investors through public-private partnership and involve the private sector in exploiting the natural resources of the NWFP, including its unlimited hydel power potential.
Durrani was presiding over a meeting of Shydo Board at the Frontier House here on Monday.
The meeting attended by NWFP Senior Minister Siraj-ul-Haq, Irrigation Minister Hafiz Akhtar Ali, Chief Secretary Ejaz Ahmed Qureshi, Additional Chief Secretary Mir Laiq Shah, Irrigation Secretary Shehzad Arbab, and other officials. It also approved the budget after thorough deliberation.
It decided to hire the services of two competent consultants, the one to look after the financial matters, and the second the technical aspects of Shydo.
It wanted to grasp all the issues and take good decisions, saying these consultants will also advice the board for decision-making regarding power purchasing agreement, the potential to produce electricity, the existing fiscal space of the province, and how and where the government could generate resources for the projects that the Frontier government considered to be key to economic gains.
The meeting formed a committee comprising the irrigation secretary and representatives of Planning and Development and Finance to settle the routine matters of the Shydo.
It focused on the pace of progress of the Malakand-III Project and the chief minister directed the officials concerned to deploy efficient manpower for timely results.
This project is going to be the backbone of economic activity in the Frontier province, Durrani said, adding: "We wanted it to be a model for attracting mass scale investment and the electricity produced through the project would be provided to the industrial zone already approved by the Frontier government."
The chief minister said the Frontier government wanted to open up all avenues for private sector investment, adding: "We would also encourage public-private sector partnership."
He said: "The exploitation of natural resources, including hydel power potential and re-tracking the industrialisation process, we would gain at three dimensions. It would generate job opportunity, enhance economic activity, and bring overall development."
Durrani directed for quality construction work, saying this project would not only produce 81 mw electricity, but would contribute Rs 1 billion annually to the provincial exchequer. Similarly, the electricity produced through the Pehur project would be provided to industrial units at Gadoon.
He also said the investment is coming in automobile sector in the province, and the owner of the Lucky Cement Factory is also keen to double the unit, and directed to remove bottlenecks hindering the flow of investment in the province.
The NWFP chief minister said the MMA government is keen to launch new projects and complete the ongoing projects in time that will strengthen the economic position of the province, adding: "We want to streamline the process of industrialisation based on available raw material."
He said that hydle projects and other natural resources-based industrial units will produce maximum jobs, strengthen the fiscal space of the province and more importantly will lead to overall development of the province.
The chief minister also directed to prepare feasibility for the Malakand Tunnel to inter-link the northern and central districts through direct road communication that would lessen the distance and promote tourism in the region.