PESHAWAR: “Gone are the days when law and order would keep the investors away from investment in particular area,” said Raziuddin, CEO of Khyber Pakhtunkhwa Oil and Gas Company.

“Chinese are working in Karak, a southern district of Khyber Pakhtunkhwa rich with oil and gas. Thanks to video-conference facility, Beijing and Karak are in touch and doing business,” said Mr Raziuddin while talking about the rich oil and gas prospects of Khyber Pakhtunkhwa in an event held recently. Security concerns may have been hurdle to the full exploitation of the potential of the area, still 10 companies are working in Southern districts rich with oil and gas, he said.

“Khyber Pakhtunkhwa is not as dangerous as Siberia or other countries in Africa where companies are working in oil and gas fields,” he said.

While he talked of how with just 10 million dollars any one could invest in oil and gas as the KPOGC was going to help with all the formalities, some investors from Gulf already seemed to have started taking interest.

Investment in hydel energy in KP has the potential to yield upto 80 per cent more profit rates compared to other provinces, he said. Quite an interesting and dynamic Khyber Pakhtunkhwa was showcased at a recent event organised by some enthusiastic professionals in collaboration with the government and private bodies, all with one aim to woo investors.

Branded as a unique curtain raiser event of an investment campaign “Crossroads-KP” was held recently to show a face of Khyber Pakhtunkhwa often distorted by the bad news about this land rich with history, culture and natural resources.

Perhaps, for the first time different business and government bodies joined hands to showcase the investment potential of Khyber Pakhtunkhwa in various sectors in front of diplomats of about 17 embassies, private companies and investors from all over the country.

The Insaf Professional Forum, FPCCI, and Saarc Chamber with the support from Khyber Pakhtunkhwa government and Economic Revitalisation of KP and Fata (ERKF) tried to do away with the wrong impressions about the province and brought forth its potential and investment opportunities in oil and gas, minerals, industry and tourism sectors.

Zahid Shinwari, president of Khyber Pakhtunkhwa Chamber of Commerce and Industries, talked of how he has done better in the last 15 years compared to his friends in Punjab just because the environment in the Khyber Pakhtunkhwa enabled him to not only continue business here but also in Afghanistan and Central Asia.

Another industrialist, engineer Noman Wazir who heads a government agency helping in technical training of the manpower here, narrated how businesses were doing well in Khyber Pakhtunkhwa despite ‘image issue’.

The North West Hospital and Research Centre is one example which has become one of the top companies showing success and growth.

Khyber Pakhtunkhwa has the potential of oil and gas, hydel power, a wealth of metallic and non-metallic minerals and potential for tourism, but all that is marred by ‘misperceptions’ about this region. However, things are not as bad as reported about the province.

“Unlike other provinces, there is no loadshedding of electricity or gas so our factories worked without any hurdles,” said Zahid Shinwari.

Mohsin Aziz, another successful industrialist and head of Khyber Pakhtunkhwa Board of Investment, said that the board was initiating projects and would facilitate the investors in all formalities to realise projects.

The representatives of the KP government assured the investors of their resolve and commitment to facilitate investments.

Provincial minister for education Atif Khan said that the provincial government had allocated Rs950 million for technical education and vocational training activities so that skilled labour could help improve the provincial economy. Asad Qaiser, Speaker KP Assembly, also hoped investors would come to this land of opportunities.

Fuzail Siddiqi, a renowned mineralogist, was of the view that the recent discovery of massive oil reserves in KP promised a change of fortune for a region ravaged by conflict for the last three decades.

Published in Dawn, July 6th , 2014