K-P to become economic hub: CM

Says 71 industrial development projects part of this year’s ADP

PESHAWAR:

Khyber-Pakhtunkhwa (K-P) Chief Minister Mahmood Khan has said that his government has introduced various reforms and taken pragmatic measures to make the province a transit hub alongside boosting investment and industrial activities, which have generated multiple livelihood opportunities and, in the near future, K-P province will play vital role in strengthening the national economy.

In a statement issued here from Chief Minister's Secretariat, Mahmood Khan said that the incumbent provincial government is taking short-term, mid-term and long-term measures to promote investment in different sectors and to transform the government vision of developed and prosperous K-P into reality.

New economic zones are being established to accelerate industrial activities and sick industrial units are being revived so as to generate livelihood opportunities.

He added that the K-P government is strengthening road infrastructure by constructing motorways, highways and roads for easy and timely transportation of industrial products, which are imperative for the promotion of business and trade.

The government’s initiatives to this end include construction of Swat Motorway, Extension of Swat Motorway, Dir Motorway and Peshawar-Di Khan Motorway, which will have a significant role in making the province a transit hub for national and regional trade.

It is pertinent to mention here that during the last four years, 1,445 kilometers of new roads have been constructed and 2,640 kilometers of roads have been restored while 49 bridges have also been constructed.

The chief minister clarified that the provincial government is working on promoting the industrial sector according to contemporary needs and is extending all possible facilities to investors to provide them with a conducive and friendly environment.

He also said that his government is taking steps to develop tourism as an industry in the province.

Construction of access roads to tourism spots, establishment of integrated tourism zones, establishment of facilitation centers for tourists and other initiatives are being taken in this regard.

It is pertinent to mention here that 71 development schemes have been reflected in the current annual development program (ADP) to ensure development of the industrial sector on a sustainable basis. During the last four years, a number of new economic zones have been established, including Jalozai Economic Zone, Nowshehra Economic Zone (extension), DI Khan Economic Zone, Rashakia Special Economic Zone, Chitral Economic Zone, Hattar Special Economic Zone, Bannu Economic Zone, Ghazi Economic Zone and Mohmand Economic Zone. Additionally, Daraband Special Economic Zone, Salt and Gypsum City Karak, Buner Economic Zone, Katlang Economic Zone and Mansehra Economic Zone will also be launched soon.

An investment of around Rs338 billion has been made in existing and new economic zones wherein 167 sick industrial units have been revived.

In order to promote international investment in the province, 44 MoUs worth $8 billion have been signed at Dubai Expo 2020 following the formal agreements with various investment companies to materialize these MoUs.

Similarly, in the roads sector, various projects worth billions of rupees have been initiated which on completion would change the entire landscape of the province.