Chief Minister Khyber Pakhtunkhwa Mahmood Khan has stated 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
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. Furthermore, 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 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. “Promotion of this province at both domestic and international level as a preferred destination for investment by creating the enabling environment through ease of doing business is ultimate goal of incumbent government,” he added.
Mahmood Khan stated that provincial government is also striving for trading across borders. 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. Similarly formulation of provincial trade and commerce strategy is under process and have been shared with industries department of Khyber Pakhtunkhwa.
The Chief Minister expressed his satisfaction over the progress made so far stating that the provincial government wants to rebrand Khyber Pakhtunkhwa as preferred destination for business by introducing policy reforms and creating an enabling environment aimed to create soft image of the province at global level. One window services would be given to all existing and new investors in Khyber Pakhtunkhwa, he added.
Mahmood Khan also underlined the need to speed up under development incentive plan for Newly Merged Tribal 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.