Hattar Economic Zone part of new chapter in economic development: CM

Says investors offered one-window operation facility through the K-PEZDMC

HARIPUR:

Chief Minister Pervez Khattak has said the Pakistan Tehreek-e-Insaf government revamped the industrial sector by introducing a new phase of economic development in the province.

He was speaking at the ground-breaking ceremony of Hattar Economic Zone on Tuesday. The event was attended by Minister for Education Atif Khan, Adviser to the Chief Minister on Food Qalandar Khan Lodhi along with various advisers, MPAs and industrialists.



According to Khattak, this new phase will help overcome major issues such as poverty and joblessness.

The chief minister added, “In order to promote industrialisation in K-P, we have established Khyber-Pakhtunkhwa Economic Zone Development and Management Company (K-PEZDMC) after research and consultation with experts.”

“The provincial government is offering a one-window operation facility to investors through the K-PEZDMC,” he said. “The organisation will facilitate businessmen to purchase plots and help them gain access to utilities, such as gas and electricity, which are essential for production purposes.”  Khattak urged both foreign and local investors to set up industries in the economic zone and other parts of the K-P.

“The government is going to offer them a 5% discount on their capital mark up,” he said. “A 25% discount will be offered on land purchase process. In addition, it will waive off five years of income tax for those industries that will be established before September 2018.”

He added, “The industrial sector has been neglected over the past 67 years and previous governments even failed to capture a market in Afghanistan. This resulted in joblessness and poverty.”

Published in The Express Tribune, December 16^th,  2015.