K-P’s 2015 investment roadshow cost Rs32m

Around half of the cost was spent on travel, accommodation, event charges and rental costs

PESHAWAR: In February 2015, then provincial chief minister sat in the Chief Minister House in Peshawar and beamed as he disclosed that they had managed to sign agreements worth $1.2 billion with international investors during an investment roadshow in the United Arab Emirates (UAE).

Four years on, government documents have disclosed that the conference cost the provincial government Rs32 million.

During the tenure of the previous Pakistan Tehreek-e-Insaf (PTI) government, a 31-member delegation, including the provincial chief secretary and provincial ministers and other relevant government officials had travelled to Dubai to participate in the international donor conference. The then Khyber-Pakhtunkhwa (K-P) chief minister Pervez Khattak, though, could not travel for the conference due to his involvement in the Senate elections and PTI Chairman Imran Khan had inaugurated the roadshow while the provincial team was led by the then Board of Investment vice chairman Mohsin Aziz.

The travel cost for the entourage was Rs4 million while hotel and local transportation costs were also borne by taxpayers.

The documents further revealed that the delegation’s residential facilities, event charges, rent of various items used during the conference cost around Rs12 million.

A further Rs7.2 million were spent on management fees and other miscellaneous expenses.

During the conference, the K-P government had tabled the Khyber Oil Refinery, a theme park in Swabi, date exports facilities in Dera Ismail Khan, improving tourism and other facilities for archaeology sites in Mardan, the Ayubia chairlift system and their installation in the Galiyat area of Hazara division.

Termed the K-P Investment Road Show, Khattak in a news conference upon his return from Dubai had noted that “Unless facilities and relief are granted to investors, the dreams of industrialising K-P cannot materialise.”

Khattak had hoped that industrialisation could help them combat economic problems, especially unemployment and poverty.

Among the 12 letters of intent, which the provincial government had claimed to have signed, were related to the tourism sector while around $200 million was pledged for the energy sector.

 

Published in The Express Tribune, July 15^th, 2019.