Khattak offers security, incentives to investors

PESHAWAR: Khyber Pakhtunkhwa Chief Minister Pervez Khattak has welcomed establishment of Pakistan Stock Exchange (PSX) and urged the Securities and Exchange Commission of Pakistan (SECP) to set up its branch in Peshawar to facilitate investors.

The PSX was set up by merging the three stock exchanges of Karachi, Lahore and Islamabad.

Speaking as chief guest at an awareness programme regarding PSX at a local hotel here on Thursday, Mr Khattak said that after spending two and a half years in introducing legislation, system reforms and policy initiatives, the provincial government was in a position to offer various feasible development projects for investment, particularly in energy, minerals and communications sectors.

The chief minister said that investors would be given foolproof security and other necessary facilities for such projects. He said that government was not only encouraging private sector but it had practically started to involve it in the service delivery, administration and policymaking of various sectors including health, industries, communication and education etc.

Mr Khattak said that investment environment in Khyber Pakhtunkhwa was made favourable by introducing industrial and mineral policies. In such a situation the proposed capital investment hubs by PSX would further enhance investment opportunities in the province, he added.

“Our government established one window service centres to facilitate industrial investors and offered them sizeable subsidies on bank loans, acquisition of land, transportation of machinery and electricity bills,” said the chief minister.

The function was arranged by Karachi Stock Exchange (KSE) in collaboration with SECP and Arif Habib Group of companies. SECP Chairman Zafarul Haq Hijazi, Arif Habib and managing director of KSE Nadeem Naqvi also spoke on the occasion.

They appreciated the governance and economic growth reforms of the provincial government. “The lucrative incentives announced by the Khyber Pakhtunkhwa government for industrialisation is wise and novel approach for ensuring rapid economic growth and overcoming unemployment,” said Arif Habib in his address.

He said that leadership of the province was standing for securing the rights of the province with reference to China-Pakistan Economic Corridor project. He added that local investors and non-resident Pakistanis should be given priority in 25 per cent equity investment in CPEC projects.

Mr Habib also offered free of cost advisory services and financial arrangements of his group to the provincial government for its projects in energy and other sectors.

SECP Chairman Zafarul Haq Hijazi said that capital hubs of SECP would be established in small cities and one of them had already been opened in Abbottabad.

He said that he was more convinced by Khyber Pakhtunkhwa government initiatives for economic and industrial growth. He said that due to the rich natural resources available in the province, big investment and financial companies and groups would happily like to invest in it.

Published in Dawn, January 8th, 2016