PESHAWAR: The Khyber Pakhtunkhwa government has announced to start working for the implementation of five major industrial incentives to attract the investors in the province.
The incentives were announced under the Provincial Industrial Policy, 2016 and include waiver of 5 percent mark up on industrial loans for five years to enable the local industry to provide cheap products, 25 percent concession in electricity bills to the industrial units for three years, production of new value added products, 25 percent discount on land purchase for the industrial units, 25 percent assistance in transporting industrial machinery and 25 percent grant for female entrepreneurs.
The decision was taken in a meeting of the Special Committee on Implementation of Provincial Industrial Policy, 2016, held under the chairmanship of KP Finance Minister Muzaffar Said. The meeting also took stock of revival of the sick or closed industrial units in the province, and discussed streamlining affairs of the Bank of Khyber for extending the limits of industrial loans.
The secretaries of Finance, Industry, Labour, P&D and other related departments attended the meeting besides Senator Mohsin Aziz, Board of Investment and Trade Vice Chairman, Advisor to Chief Minister on Industries Abdul Kareem, KP Chamber of Commerce and Industries President Zulfiqar Ali, KP Economic Zone and Management Company CEO Mohsin Sayyed and others.
