CM chairs high level meeting, asks federal govt. to clear Rs65bn net hydel profit

CM chairs high level meeting, asks federal govt. to clear Rs65bn net hydel profit

PESHAWAR: Khyber Pakhtunkhwa Chief Minister Mahmood Khan has asked the federal government to clear Rs. 65 billion, the net hydel profit arrears and also share of the province. He was addressing a high level meeting at his office in Chief Minister Secretariat Peshawar.

He assured rapid progress of newly merged districts of erstwhile FATA, investment facilitation and boosting economic base of the province. Advisor to Prime Minister Arbab Shehzad, Senior Minister Muhammad Atif Khan, Provincial Minister Finance Taimur Saleem Jahgra, Provincial Spokesperson Ajmal Khan Wazir, Speciall Assistant to CM Kamran Bangash, Special Assistant to CM Hamayatullah, Additional Chief Secretary Shehzad Banagash, administrative secretaries and others attended.

Highlighting the urgency to clear the net hydel profit and the arrears that stands Rs. 65 billion, the Chief Minister said that provincial government was committed to launch a comprehensive development and welfare plan to facilitate common man.

He expressed commitment to initiate and boost trade and economic activities in newly merged districts adding government would take up issue of financial transfers with the federal government.

“We are going all out for uniform development strategy of all districts in the province and working on boosting of fiscal space of the province supported by investment facilitation through one window operation”, he said.

The meeting focused on clearance of net hydel power profit and arrears due against federal government.

It also focused on easing out business, reconstruction and rehabilitation of war hit seven new districts of erstwhile FATA, acquisition of land for Dassu Dam, land computerization, tax reforms, reducing non development expenditure, reducing electricity theft and efforts for economic stability of the province.

The meeting also agreed to transfers of resources for the newly merged districts and suggested removing unnecessary check posts on trading routes.

The issues hindering trade and economic activities at Torkhum, Ghulam Khan and Angor Adda, the border area adjacent to Afghanistan were also discussed.

Participants agreed to take up facilitation of foreign investors for opening up accounts in commercial banks of the province in the next meeting at federal level.

The land acquisition of Dassu hydel power project would be taken up in next week meeting at federal level.

The Chief Minister underlined the need for resolving issues hindering trade activities in border areas adding that extension of facilities in newly merged districts would facilitate trade and commerce leading to promotion of tourism industry in the province.

The meeting was briefed about the expansion of land computerization process in the province, posting of special judges for accelerated redressal of commercial disputes and enhancing the numerical strength of the judges.

Meeting was informed about the rationalization of expenditures and revision of annual development plan.

The efficient human resource audit and reduction of non salaried expenditures would save up to Rs. 4 billion.

It was concurred to spend electricity related recoveries on improvement of power transmission and distribution system.

A committee was formed to improve revenue generation.

The board of Directors of PESCO was being reconstituted to address management related issues of PESCO.