Minister Invites National, International Investors To Invest In KP

PESHAWAR, (UrduPoint / Pakistan Point News - 07th Nov, 2016 ) : Provincial Minister for Energy and Power and education Muhammad Atif has invited national as well as international investors to invest in Khyber Pakhtunkhwa in various sectors particularly in Energy and Power Sector as there were great opportunities of investment in this sector.

He said this while talking to Italian delegation at Peshawar on Monday. Beside others, Secretary Energy and Power Engineer Naeem Khan and CEO PEDO Akbar Ayub were also present on this occasion.

Members of the delegation were briefed in detail regarding ongoing, new and proposed projects of E&P Sector and informed it about the opportunities in this sector. The members of Italian delegation took keen interest in the briefing and posed certain questions to apprise themselves.

The Energy Minister maintained that the Khyber Pakhtunkhwa Government had so far identified projects of 514 MW in public sector out of which work on 214 MW was in initial stage.

Similarly seven projects of 668 MW had been offered to private sector for which its response was very encouraging, he added.

Atif continued that such projects would be offered through Open Bid their sites have already been identified and feasibility study completed while those projects would be given on first come first serve basis the sites of which have not yet been identified nor its feasibility is completed.

He said that there was zero corporate tax on power project in E&P Sector. The Minister said that the Private Sector could also form transmission and distribution company with full guarantee of Government of Pakistan.

He further said that hydro power generation was cheaper than thermal power that was why hydro power was the high priority area of Khyber Pakhtunkhwa Government and it announced huge incentives to investors for investment in this sector.