The Sarhad Development Authority (SDA) has started receiving applications for plot allotment in the proposed 270 acres of industrial estate in Jalozai, Nowshera district from interested investors to establish industrial units, Manager Estates, Abdul Hameed Awan told Business Recorder on Thursday.
"The authority has started receiving applications in the industrial estate and a lot of investors have already filed it," he said, adding that the allotment would start within a period of six to seven months.
The form submission fee is Rs 500/- and the investors have to pay half of the price of Rs 0.6 million of the plot before the acquisition. The remaining amount would be paid in instalments. The plot applications are available with SDA.
He said 30 percent area of the acquired land had been reserved for infrastructure development and plots offered to the interested investors were one acre or multiple of one acre.
The decision of establishing a new industrial estate has been taken while considering the importance of Peshawar for the export potential to Afghanistan and the Central Asian Republics.
The industrial estate would offer special zones for marble, pharmaceuticals and furniture industrial units.
The provincial government last year announced first-ever investment policy offering handsome incentives for investors in the province. The government in its industrial policy 2005 had announced 25 percent rebate in electricity consumption to the eligible new industries. The imbursement has been given for a period of three years to the new industrial units starting production between July 1st, 2005 to June 30, 2008.
The policy has also exempted industrial units in the industrial estates from the payment of property tax for the period of 5 years while all arrears related to provincial property tax against the industrial units in the industrial estate up to June 30, 2005 have been waived off.
Similarly, in order to reduce the number of taxes, the provincial government has also exempted industrial units in NWFP from the payment of Education Cess. In order to provide further relief to the industries in the province, the provincial government has introduced a tiered system for collection of employees' social security. Under the new policy the industrial units in NWFP has the option to opt for the tiered-system.
The NWFP government has also reserved 10 mega watt cheap electricity from Malakand-III Hydro-power project for selected new industries to be set up in the proposed Malakand Industrial Estate.
For the promotion of investment, the provincial government has constituted Investment Facilitation Council headed by chief minister. The council is comprised of representatives from both public and private sectors and working for facilitation of investment, while an investment facilitation committee under the chairmanship of chief secretary meets to settle the problems of industrialists in the province.
In persuasion of investor-friendly policy and provision of healthy and conducive environment to the industrialists the provincial government has decided to stay away with the unnecessary labour inspections. Under the new policy any industrial unit, which ensures compliance of the labour laws will be exempted from labour inspections for a period of three years. Further exemptions can also be obtained. The units would provide their production figures and other details to the directorate of industries and labour every year.