Provision of conducive environment for investors govt’s top priority, says CM

F.P. Report

PESHAWAR: Khyber Pakhtunkhwa Chief Minister Mahmood Khan stated Monday that provision of conducive environment for investors through ease of doing business is the topmost priority of the provincial government through which considerable revenue generation and self sustainability of the province can be ensured.

While chairing a meeting regarding steps taken for promoting ease of doing business at Chief Minister house, the Chief Minister was informed that Ease of Doing Business cell at Khyber Pakhtunkhwa board of investment and trade (KP-BOIT) and rolling out full online application system with an E-payment option has been established whereas a favorable credit line for small to medium enterprise through Bank of Khyber will also be launched very soon.

He was informed that steps have also been taken to eliminate duplication of taxes and regulations regarding NOC, Fee, Tax, License and other facilities in order to facilitate the investors at maximum level.

The Chief Minister Mahmood Khan directed that remolding of institutions should be geared up to improve the structural, functional, advisory, facilitative and after care process at KP-BOIT and relevant provincial agencies regarding investment in Khyber Pakhtunkhwa.

Mahmood Khan stated that provincial government is also striving for trading across borders adding that Torkham border has already been opened for 24 hours throughout the week which has great impact on import and exports as well.

As per details, improvement occurred during last three months show that annualized impact of 24/7 operation at Torkham border is very graceful with Rs.32 billion increase in exports and Rs.4.4 billion increase in import duties at an annualized cost of only Rs.0.1 billion per year.

The meeting was further informed that draft of revised Khyber Pakhtunkhwa industrial policy 2020 is also ready for consultation with stakeholders while draft of investment policy for newly merged areas is in final stage.

Mahmood Khan also underlined the need to speed up under development incentive plan for merged districts (NMDs) directing that creation of enabling environment in merged areas should be the priority by focusing on development of potential sectors including education sector with emphasis on vocational and technical training.

He particularly directed that the same regulations of agencies/departments should be simplified to one organization/institution for avoidance of duplication further directing that integrated communication through Khyber Pakhtunkhwa BOIT should be developed for post investment facilitation of investors.

The main objective is to create investment and business friendly environment for both local and foreign investors and companies.