$2.5 billion investment expected in K-P, says CM

Khattak expresses optimism as he awards prospecting licences to 14 firms

PESHAWAR: Khyber-Pakhtunkhwa (K-P) Chief Minister Pervez Khattak on Monday awarded prospecting licences to 14 firms that will invest in the cement industry in the province.

The K-P government awarded the titles at a time when demand for cement is increasing due to construction activities associated with the China-Pakistan Economic Corridor (CPEC).



Distributing the prospecting licence offer letters among the firms at the Chief Minister House, Peshawar, Khattak claimed that the mineral titles distributed would bring investment worth $2.5 billion to the province and will create jobs.

Khattak offered his complete support to the industrialists who wish to invest in the province.

“There is no need of any NOC (No Objection Certificate) for setting up a factory in K-P,” Khattak said, claiming that references are not needed for any job in the province.

He assured investors that no one would be asked for any bribes, adding that any complaints can be directly addressed to him.

“The title will be cancelled if corruption or irregularity was proved in the process.”

Khattak also invited the industrialists and investors for a road show, which the K-P government is holding in China on April 16 and 17.

Khyber-Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC) Chairman Ghulam Dastagir informed the participants regarding the facilities K-P offers to investors in the province.

“K-P is the only province in the country which has its own Industrial Policy and it has special economic zones management authority headed by the private sector, which shows the extent of K-P government’s efforts to encourage private sector for investment in the province.”

Speaking on the occasion, K-P Secretary Mines and Mineral Development Zaheerul Islam said that his department is starting online application system for mineral titles. He accepted that his department was lacking technical expertise but gradually they are improving and overcoming their technical weaknesses.



Talking to The Express Tribune, chief executive of Capital Cement Major General (Retd) Rehmat Khan appreciated the transparency in the titles allotment and pointed out technical mistakes of the K-P mines and mineral development department.

“The department had put up some sites on their website, which were either not cleared by the army, WAPDA or they were already awarded to someone,” he said.

Khan added that the cement demand is high in the country, furthermore the Punjab government has banned issuing mineral titles thus K-P has an opportunity to attract investors.

Published in The Express Tribune, March 28^th, 2017.

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