The Experts, Development Partners and Chamber of Commerce and Industries representatives have recommended to Khyber Pakhtunkhwa Government some of the useful suggestions on the proposed draft Investment Policy of Government of Khyber Pakhtunkhwa.
The Planning and Development Department Government of Khyber Pakhtunkhwa conducted one day workshop on finalization of draft Investment Policy of KP Government in Islamabad on Tuesday with the support of Governance and Policy Project. Representatives from different Diplomatic Missions, Government Entities, Investment Research Institutions, representatives of the Corporate sector and Academia turned up to attend the consultative workshop.
Secretary Planning & Development Department Government of Khyber Pakhtunkhwa, Shahab Ali Shah in his welcome address said that the province of Khyber Pakhtunkhwa has comparative advantages in various sectors specially in its geographic location, natural resources, tourism and youth could be exploited for the attraction of local and international investors leading to prosperity, revenue enhancement of the province and job creation. The participants were divided into 6 working groups for in depth discussion on different portions of the draft policy. Intensive discussion and debates took place. Each group came up on how to further improve the policy to attract investment to the province.
The participants have recommended framing the policy which could encourage comparative advantages of KP instead of protected investment Policy. The business community appreciated that in 70 years of the province history this was the first serious attempt of any government to address the economy of the province and tried level best to attract the investment in the province. Investment Policy will give legal protection to the investors as well as strategic guidelines and facilitation to the national and international investors.
This investment policy would also be having advantages after its implementation as this was not being made in isolation and every segment were given full opportunities to take part in drafting and finalization of the investment policy before the cabinet approval. Every potential of the KP whether it would be from Hydel, Energy, Power, Mines, Agriculture, IT and Industries would be fully utilized for the advantages of the people of Khyber Pakhtunkhwa.
The Secretary Planning & Development Department in his conclusion remarks said that experts and representatives from different sector would be incorporated in the policy and it would be presented to the Cabinet and Provincial Assembly to cover it an Act of Assembly.