The environment will become easier for enterprises in Khyber Pakhtunkhwa (KP) to do business after the approval of the action plan for the second phase of Ease of Doing Business initiative by the KP government. Chief Minister of KP Mehmood Khan has directed all the relevant departments to speed up the launch of the project.

He said that the purpose of the project was to make it easier for the businesses to get approval and accreditation from the government departments for their projects and initiatives. This will improve the overall business environment in the province and more investments from different sources will pour in.

He was speaking at the 10^th board meeting of the Khyber Pakhtunkhwa Board of Investment & Trade (BOIT) in Islamabad on Thursday. He expressed his satisfaction at the achievements of the KP-BOIT. He told the attendees that the first phase of the program had yielded positive results for businesses in the province. It has therefore become necessary that the program should be taken into the second phase.

“Different businesses require different services. Needs of the industry are varied and cover a broad scope. These needs will not be met if the Ease of Doing Business initiative is not continued further. Investments are coming into the province but these investments are of different kinds and need different responses from the government. Continuing the program will continue the fast-paced industrialization of the country,” he said.

He provided guidance for the capacity-building and strengthening of PPP modes in the Tourism, Agriculture, Energy & Power, and Mines & Minerals Departments by replicating PPP mode of the P & D department. He also directed the authorities to constitute a committee for effective coordination among relevant provincial departments and lay special focus on the marketing of reform initiatives taken by his government. He highlighted the role of his government in making it easier for the businesses and investors to make new investments and launch new initiatives.

The chief minister was told that the MoUs signed during the Dubai Expo 2020 were being worked upon and five letter of intents in various MoUs had already been received. This showed the active efforts of the BOIT in bringing international businesses in the province. The chief minister for his part lauded the BOIT for making progress.

The meeting was told that two sole enterprises and special economic zones will also be established at Dera Ismail Khan. Their proposals will be presented in the forthcoming meeting of the federal board for formal approval. These projects are expected to attract a cumulative investment of about USD 485 million.

Also, various plots measuring 20.8 acres in Rashakai Special Economic Zone had been approved for six enterprises with an estimated investment of PKR 3.6 billion. In Hattar Special Economic Zone, three acres of land had been approved for two enterprises, which were expected to bring an investment of PKR 129 million.

Progress has also been made in giving Special Economic Zone status to the Daraband Economic Zone. Its final approval is still required from relevant authorities. Various public awareness events were also in the pipeline to disseminate information about the achievements of the Board of Investment. These events include seminars, road shows, investment seminars in Sialkot and Karachi, and investment conferences in Tajikistan and Peshawar. Road shows related to the tourism sector will be arranged in Lahore, Karachi, Faisalabad and Sialkot, the minister was told.

Credit : Independent News Pakistan-WealthPk