MARDAN, June 9:  Chief Minister Ameer Haider Khan Hoti has said the government will launch a new scheme worth Rs1 billion under which the industrialists and businessmen of Khyber Pakhtunkhwa will be provided loans up to Rs50 million on seven per cent interest rate to help boost business activities in the province. He said this scheme would be called “Seed Money Scheme”, adding 60 per cent money would be provided by the government while the remaining amount by the private investors, who would be allowed to set up a factory or other business activity in the province.

Talking to representatives of different media organisations here on Saturday, the chief minister thanked and congratulated the opposition for their cooperation and support in passage of the budget. He said it went to the credit of the provincial government to present the fifth budget, which was the success of the political forces.

Mr Hoti said it was the constitutional right of opposition benches to object over the budget to guide the treasury benches to right direction if there were any objectionable things.

To a query regarding the opposition’s objection that it was not a people-friendly budget, the chief minister claimed that it was a tax-free budget as no new tax had been slapped nor any increase had been made in the already existing taxes.

“For the first time in history of Khyber Pakhtunkhwa, Rs12 billion have been allocated for education sector,” he said, adding besides the Bacha Khan Poverty Reduction Scheme, Hunarmand Rozgar Scheme and Bacha Khan Khapal Rozgar Scheme had successfully been going on to remove unemployment from the province.

Mr Hoti said the provincial government had also allocated money in the budget for free treatment of cancer and hepatitis patients.

Regarding severe loadshedding in the province, Mr Hoti said: “We have launched Hydro Action Plan of over 2000 megawatts under which three power generation schemes have been planned.” He added in this regard he had already inaugurated first power project at Daraal Khwar area while the second one at Maltaan area and the third in Lavi locality of Chitral would be inaugurated in July.“We have allocated Rs1 billion for the laptop scheme which will be distributed among 25,000 talented students with the purpose to encourage and support them,” he said, adding for the first time the provincial government had upgraded 113,000 teachers of the province from scales 5 and 6 to scale 12.

Earlier, the chief minister laid the foundation stones of different developmental projects in parts of Mardan city which included the constructions of boundary walls of graveyard and funeral prayer place near the Mardan Sugar Mills and the construction of Nawabzada Mohammad Akbar Khan Government College for Management Sciences in the Sungi Marmar village.

After inaugurating these projects, the chief minister also addressed ANP public meetings which were attended by senator and former federal minister Azam Khan Hoti, MNA Himayat Ullah Mayar, party district leaders and large number of activists.