Peshawar: The Khyber Pakhtunkhwa Government is deliberating on plans to revive non-functional industrial units, a news source reported. The province has a total of 2,300 industrial units.
A spokesperson for the provincial industries department said only 800 out of 2,300 units remain functional. He added that the government plans to revive 1,500 of these units.
The government is also mulling providing tax relief to foreign investors for investment in the industrial sector.
Earlier, the provincial cabinet approved a Memorandum of Understanding (MoU) signed between the Khyber Pakhtunkhwa Government and Korea Hydro and Nuclear Power Company (KHNPC) for the construction of 496MW Spatgah power project in Kohistan district.
Minister for Information Shaukat Yousafzai said the project costs about one billion USD and would run under public-private partnership.
He said that the provincial government would keep 26% of the shares of the project while KHNPC will be the majority shareholder. He added that 256 out of 356 micro hydro power projects have been completed.
The minister said the projects would be transferred to local communities after operationalisation, adding that PEDO Act would have to be amended to achieve the task.
