PESHAWAR:The Khyber Pakhtunkhwa Board of Investment & Trade (KP-BOIT) has extended maximum facilitation to attract local and foreign investment by simplifying the procedure of issuance of NOCs for setting up industrial units and providing all facilities to the investors through one window facilitation.
This was told in 8th board meeting of Khyber Pakhtunkhwa Board of Investment & Trade held the other day at Chief Minister’s Secretariat Peshawar.
The meeting was attended by Special Assistant to CM for Industries, Abdul Karim, Secretary Industries, Hamayun Khan, Principal Secretary to CM Amjad Ali Khan, Chief Executive Officer KP-BOIT Hassan Daud, board members from private sector and other senior officials attended the meeting.
The meeting was briefed in detail about the steps being taken by the KP-BOIT for promotion of industrial and trade activities and facilities being provided to the investors in the province.
The forum was apprised that Investment Promotion Strategy 2021-25 and Industrial Policy 2020 had been formulated and implemented so as to boost the industrial activities by promoting private sector investment in the province.
In order to facilitate potential investors and provide them all required facilities under one roof, Ease of Doing Business Cell has been established at KP-BOIT and similarly, KP Official Business Portal has also been developed to provide online facilities to investors.
It was further told that under Ease of Doing Business initiative, 177 regulations have been mapped across the 33 department of the province for extending further facilities to investors including simplification of the process for issuance of NOCs for establishing industrial units.
It was added that several tax reforms have been introduced in order to curtail duplication in taxes adding that registration fees collected by labor department for setting up industrial units has been waived off.
Besides, an online application filing, processing and registration system has been launched for the registration of
firms.
Speaking on the occasion, Chief Minister Mahmood Khan termed promotion of private sector investment in the province as one of the priority areas of his government and directed the quarters concerned to ramp up the efforts to extend maximum possible facilitation and simplify the process of issuance of NOCs to investors.
He further directed that all the concerned departments should be bound to issue NOCs within stipulated time frames to the investors otherwise strict action be taken against the quarters concerned for causing delay in issuance.
He directed the authorities concerned to devise an integrated mechanism for the provision of all required facilities to investors under one roof. He also directed them to use different forums of mass communication in order to create awareness among the investors about steps being taken by the KP-BOIT for Ease of Doing Business.
The meeting also reviewed the implementation of the decisions taken in the last board meeting and accorded approval for the constitution of new HR, Finance and Audit committees for the board.