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
Peshawar (Pakistan Point News / Online - 13th January, 2020) 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, the 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.CM said 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.It is pertinent to mention here that the provincial government had constituted a committee under the chairmanship of Finance Minister to contribute towards ease of doing business in Khyber Pakhtunkhwa. Through this committee, besides four consultative sessions with both public and private stakeholders, mapping of 66 regulations across 15 different departments of the province have been completed. The regulations mapped cover various aspects including licenses, permits, registration, no objection certificates, taxes, fee/charges, inspections and identification of duplication of regulations.
