KPEZDMC receives overwhelming response from investors
APP
PESHAWAR
The Khyber Pakhtunkhwa province received an overwhelming response from the investors during the last six years wherein as many as 617 industrial units were set up and several others are keen to invest.
According to official data available with this agency, the establishment of new industrial zones has been attributed to the success of the industrialization agenda of the provincial government it had embarked upon since 2014.
The industries in KP witnessed great set back in past due to unfriendly policies of the past governments coupled with militancy and terrorism. Since the two successive governments of PTI in the province restored the trust of investors who invested in the province while a notable number of sick units revived during the period.
An official of Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC) told APP that KP received an overwhelming response from investors for establishing industrial units in its economic zones.
He said Gadoon Amazai, once considered a graveyard for industries, has been remarkably restored with the establishment of new industrial units by adding several mega projects by national and international business groups.
Furthermore, the provincial government has also taken various steps for facilitation of investors and business community including setting up “Ease of Doing Business Cell” establishment of industrial facilitation centers across all economic zones and one-window facility for the investors.
Moreover, the government has also exempted 120 small trade businesses from trade license fees and inspection of Town Municipal Administration (TMA) formality, reduced sales tax from 15 % to 2% on services over 27 categories and exempted 19 categories of services from professional tax on registration with Khyber Pakhtunkhwa Revenue Authority (KPPRA).
The recent establishment of the new economic zones at Jalozai, Nowshera (Extension), Mohmand, Rashakai Special Economic Zone and DI Khan Economic Zone would go a long way in realizing the concept of state-of-the-art Zones attracting foreign direct investment, paving the way for not only industrial growth but also for providing vast opportunities for employment in the province.
The Company also appreciated the Provincial Government and Board of Director’s support for their backing and guidance towards fast track industrialization in Khyber Pakhtunkhwa.
