Minister for Planning, Development, and Special Initiatives, Professor Ahsan Iqbal held a meeting with officials of China Century Steel Mills (Pvt) Limited in line with the Prime Minister’s directives to eliminate barriers to industrial development.
The minister instructed the Board of Investment (BoI), the Power Division, and the Federal Board of Revenue (FBR) to promptly address issues hindering industrial progress, according to a news release.
He specifically directed the Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC) to confirm land prices for the company as per their requirements at the earliest.
KPEZDMC officials informed the minister that the company had requested discounted rates for land per acre.Â
A Chinese consultant highlighted that in China, industries in Special Economic Zones often receive land free of cost and emphasized the importance of offering similar incentives in Pakistan.
Regarding concerns over power tariffs, the minister instructed the relevant authorities to ensure a reasonable distribution margin and provide power to the zone at rates equivalent to those for regular consumers.
Ahsan Iqbal also directed the FBR to conduct a consumption survey in the erstwhile FATA and PATA regions to accurately estimate anticipated power needs. He questioned why such a high capacity had been approved initially and stressed the importance of better planning to avoid delays in industrial operations.
The minister further directed officials to engage with members of the Peshawar Chamber of Commerce and Industry and incorporate their suggestions into the problem-solving process.
