F.P. Report
PESHAWAR: Chief Minister Khyber Pakhtunkhwa Mahmood Khan has said that the Rashakai Special Economic Zone is the center of the region. Therefore it would emerge the most suitable economic center of province and region. We have already announced special concessions for investment and industrialization formally approved by the provincial cabinet, he added.
He has in his recent visit announced a Cottage Industrial Zone in Bajawar adding that the establishment of economic zone in the whole of the province including the merged areas would be the priority area of his government. He directed to furnish progress report on the 610 Megawatt of electricity to be produced by two projects in Chitral and asked for the legal status of different investment schemes in the province.
He was presiding over two different meetings on Rashakai Special Economic Zone and Hydropower projects at his office in Chief Minister Secretariat Peshawar. Minister Finance Taimur Salim Jhagra, Advisor to Chief Minister Ajmal Wazir, Advisor to Chief Minister on Energy Himayat Ullah Khan, Special Assistant for Industries Abdul Karim, Chief Secretary Salim Khan, Additional Chief Secretary Shahzad Bangash, Principal Secretary to Chief Minister Shahab Ali Shah, Administrative Secretaries of concerned departments and other attended. The meeting was briefed about the Rashakai Economic Zone and the CPEC related energy projects in the province.
Addressing the participants the Chief Minister directed to finalize the procedure for the transmission line from two hydropower projects chitral. This procedure should take into account the market consumption capacity of the electricity produced by the hydro power projects adding that a study should be carried out in this regard.
Mahmood Khan said that we have multiple hydropower generation sites for which long term policy should be executed. The meeting was told about the concessional agreement on the Rashakai Economic Zone. The Chief Minister directed to bring it to the forum of provincial cabinet adding that Rashakai Industrial Zone being the geographical center of the region is the most viable economic zone that would integrate the whole region economically promoting industrialization, reducing, joblessness and leading to overall economic development and prosperity, he added.
The Chief Minister said that under the industrial policy, implementation would be carried out between the mutual understanding of China and Pakistan. However, the overall legal frame and requirements should be taken care of. The economic development will spell out the overall prosperity adding that his government would bring the newly merged districts to the national stream of development and resources would be provided which would be utilized transparently.
Mahmood Khan said that he had announced a cottage industrial zone in Bajawar which was part of the ten year plan for the merged areas. He directed to resolve the transmission line issue of the Chitral Hydropower projects. The energy and power department should take up this issue with the federal power division to include these projects in the CPEC. He also directed to send him progress report in this regard adding that his government has already given unmatched incentives for industrialization and investment. This should be linked to the market study for the systematic consumption of the electricity produced through the two hydropower stations. The provincial government should be clear about the electricity either way putting it for the industrial consumption locally or it will go to the national grid.
The Chief Minister said his government would implement revenue generation project beneficial to the province and enhancing its fiscal space. Therefore the relevant quarter should undertake joint ventures with the reputable companies. He said that business is always a tricky and risky game. The more you take risk, the greater you get dividend he added. We have to look to the interest of the province and move forward. He underlined the need for accelerated solution of the net hydel profit issue under the AGN formula, he concluded.
