investment avenues in light of Dubai KP road show for exploring maximum investment for province
The investment road show of Khyber Pakhtunkhwa (KP) at Dubai arranged by his Government in joint collaboration with world bank was highly successful as international investors from across the globe inked 1.2 billion dollars letters of intent (LOIs) in energy, housing, oil & gas, solar and tourism sectors. This was stated by Chief Minister Pervez Khattak and Vice Chairman Board of Investment Mohsin Aziz during a media conference at CM House Peshawar.
The Chief Minister claimed that Dubai road show attracted a very encouraging response from the international investors as they are ready to invest in diversified fields of trade and investment in the province. He was also appreciative of the response of the Federal Government towards granting provincial rights to the province and mentioned about his recent meetings with Finance Minister Ishaq Dar, Minister for Water and Power Khwaja Asif and Minister for Petroleum and Natural Resources Khaqan Abbasi which he termed very constructive and positive. He said he went with 29 points agenda and the response of the federation over it was very positive and the Federal Govt showed seriousness to address it. He explained that during the meetings at Islamabad, he focused on obtaining rights about usage of extra-gas being generated in the province as according to him if the province was given the opportunity in this regard would produce 700 mega watt cheap electricity to give impetus to industrial boost. He further told that similar meetings would be held in Islamabad by end of March for obtaining provincial rights which are pending since decades. However he asserted that investors would only trust Imran Khan and the day Imran Khan became Chief Executive of Pakistan, the investment would automatically start flowing to the country and all its provinces including KP.
Pervez Khattak argued that law and order was not a problem to prohibit the investors from making investment here rather investors go to the place where he expect maximum earning. To a question, he rejected the impression that elected representatives were saleable commodities in KP for the senate election, adding his Government would go strong against the menace of corruption in Senate polls. He defended the PTI ticket holders, saying they would represent the province’s interest in a more better way in the Upper House of Parliament. He reiterated that industrial development in KP sans special incentives was not possible due to locational disadvantage and being far away from the sea port besides expensive raw material. To another query he said his Government has made it clear on the Afghan Govt that Afghan nationals without valid documents would be expelled. He clarified that Afghan refugees with valid documents would be allowed to stay as per international obligations. He said he had already directed police not to unnecessarily harass the Afghan nationals and behave with them in responsible manner.
Dilating upon the details of the road show, Mohsin Aziz said 12 letters of intent amounting to $1.2 billion have been signed with reputed international firms and investors. The LoI include one in refinery costing $200 million, two LoI in agriculture sector, on each in hydel and solar, two in mines and mineral sectors, four in housing sector costing $ 800 million and one in tourism. “IT was a different road show than the one held at Karachi by the KP Government as the show at Dubai was projects specific that is why the investors showed keen interest in the province,” Mohsin remarked. He said not a single penny from the provincial kitty was spent on the show rather it was sponsored by the World Bank.