PESHAWAR: The Khyber Pakhtunkhwa government expects around $1.2 billion foreign investment in different sectors particularly in energy, power, housing and agriculture sectors in the province.

Chief Minister Pervez Khattak told a news conference here on Friday that the recent Investment Road Show for Khyber Pakhtunkhwa in Dubai was successful as the response of foreign investors was very positive.

He said the investors, who attended the event, expressed willingness to make investment in the province though the local law and order situation was not conducive.

CM says investors at Dubai road show expressed interest in power, agriculture and housing sectors

The chief minister said investors showed interest in power generation, agriculture and housing sectors.

He said the law and order situation could not discourage investment and that development would continue.

The provincial government had organised a two-day investment moot in Dubai on February 24.

Pakistan Tehreek-i-Insaf chairman Imran Khan inaugurated the event. Organisers claimed investors from different countries attended the World Bank-funded moot in large numbers.

The chief minister said he didn’t attend the show due to his hectic schedule for the Senate elections to be held on March 5.

The ministers, advisers and senior officers also attended the conference.

The chief minister was more upbeat due to the success of his recent meeting with federal finance minister Ishaq Dar rather than the investment show in Dubai.

He said he had discussed 28 points with the finance minister, who made serious commitments to resolving the issues of Khyber Pakhtunkhwa.

Khattak said the centre would clear the province’s arrears on the head of net hydel profit and agreed to allow the Khyber Pakhtunkhwa government to generate electricity from surplus gas.

He said electricity produced from gas would be provided to industries, which would end unemployment in the province.

While responding to a question, the chief minister said foreign investors would come when PTI chairman Imran Khan became the prime minister.

“Investors have trust in Imran Khan and they will bring investment when he becomes the prime minister,” he said.

Khattak said Khyber Pakhtunkhwa had geographical disadvantage and was not feasible for industrialisation unless the government offered incentives.

He said provision of electricity could help attract industrialists.

When asked about the provincial government’s stand on the proposed changes in the Pakistan-China Economic Corridor route, the chief minister said his government had reservations about the matter and would not allow the federal government to make changes in the original plan.

He said the federal government would arrange a briefing for parliamentary leaders about the project.

Giving details of the investment show, Khyber Pakhtunkhwa Board of Investment and Trade vice chairman Mohsin Aziz said more than 12 letters of intent were signed with foreign investors during the conference.

He said $1.2 billion investment was expected in the province after these letters of intent were signed with investors.

Mohsin Aziz said members of Pakistan Business Council also attended the conference.

He said the show was project specific and investors were provided feasibility reports of different projects.

The board chairman said 12 letters of intent were signed with the tourism department and investors expressed interest in construction of rest houses.

He said investors also agreed to invest in the hydel power generation and establishment of oil refinery. Mohsin Aziz said the investors, who showed willingness in the installation of refinery, sought the government’s help in the acquisition of land for the plant.

He said $8 million investment was expected in the housing sector, while letters of intents were signed for making investment in the agriculture sector.

He also said foreign investors were aware of the current security situation in the country and that the government did not conceal anything from them.

Published in Dawn, February 28th, 2015

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