Foreigners hesitate in investing in Khyber-Pakhtunkhwa (K-P) because of corruption, said K-P Chief Minister Pervez Khattak at a meeting on Monday.
“The incumbent provincial government is taking steps to remove any hurdle in the way of foreign investment in the region,” Khattak said at the meeting to discuss foreign investment, primarily hydel power projects.
He added that not only would the government facilitate investors through one- window operations, but will also provide security to all investors. At the meeting, the provincial government discussed investment opportunities with Galaxy Group representatives, a company working in the hydel power sector.
Qaumi Watan Party provincial chief and senior minister Sikandar Sherpao, MNA Shahreyar Khan, Additional Chief Secretary Planning and Development Khalid Pervez, Additional Chief Secretary Finance Sahibzada Saeed and Secretary for Energy and Power Khalid Gillani were among other officials present at the meeting.
Gillani discussed the approved hydel power projects in Khyber-Pakhtunkhwa along with other resources from which power can be generated in the province.
Galaxy representatives expressed their interest in investing in power projects which can generate up to 1,000 megawatts. The meeting decided to further discuss matters relating to hydropower generation in the province and then to sign a memorandum of understanding within the next few days.
Published in The Express Tribune, July 9th, 2013.