KARACHI: With some 65,000 trained workers and labour sitting jobless, the province of Khyber Pakhtunkhwa and Fata need economic activity and not war, said KP Minister for Industries, Commerce and Technical Education Bakht Baidar on Thursday.

Mr Baidar was the keynote speaker at the investment road-show with the theme ‘Exploring investment opportunities in KP and Fata’.

The event was organised by the government of KP and Fata Secretariat in collaboration with the Multi-Donor Trust Fund (MDTF) administered by the World Bank.

He said that the KP government understood the importance of economic revival of the province and the Federally Administered Tribal Areas.

“We have earmarked a sizeable amount for trade and investment and some 2,000 special economic zones are being developed in the region,” he said.

Relating poverty and terrorism in Karachi, Balochistan, KP, Fata and Afghanistan, he opined: “It’s not religion that leads to terrorism. It’s the issues of economic inactivity. We do not need guns. Gadoon Amazai has already been taken away from us and what we have now is a junkyard. With 75 per cent of industry closed in KP and Fata and a huge labour force that is sitting idle, I am afraid that they might end up falling in wrong hands.”

Closing his speech, he requested the participants to invest in the region, saying: “We need money, not for guns but for education and industries.”

Poor liaison

Sharing his experience as an investor in the region was Zeeshan Khanzada, CEO Ghanool Hydropower Project. His aim was to set up a 2.4MW power project at the confluence of Ghanool Nullah with Kunhar River in KP.

“It’s been four years and we are still not in the construction phase,” he said. Stating that GHP was a test case and did help in streamlining a number of policies and made it easier for others interested investors.

“Even though it’s a small dam, the procedure for it is the same that is followed for constructing mega dams.”

Despite his negative experiences, he was hopeful that things would improve.

“Not even a single IPP has been commissioned in KP. The reasons for this include lack of implementation of policies at provincial level and poor liaison at the intra-government level,” he remarked.

Secretary Mines and Minerals Department KP Mian Waheeduddin dispelled the negative image of KP and Fata. “When I landed in Karachi last night, I saw a bustling city, a Karachi that I knew from many years ago. Same is the case with KP. Only 5-6 per cent areas of the province face militancy. If Karachi is safe for investment, our province is safe too,” he asserted.

Urging the participants to use modern technology, Waheeduddin said that 85pc of marble was wasted due to the use of explosives. “What we are left with is chipped and lined marble that is ‘low grade and fetches low rates in the market’.”

Mohsin Khalid, CEO ICT Logistics, highlighted the opportunities that KP and Fata, particularly Peshawar, offered. “Growing youth population, rental boom and urbanisation are the reasons that make KP and Fata lucrative from an investor’s point of view.”

Giving an example, he said that there was no cold chain in KP and Fata. “Ice-cream manufactured in Sahiwal, Punjab has to be delivered within 12 hours to KP or else the products go bad. There is a vast opportunity in this sector.”

Negatives aplenty

Despite flying in a strong contingent of over 100 individuals belonging to various trade and industry sectors, the road-show left a lot to be desired.

A panelist, member Fata Chambers of Commerce and Industry, Shahid-ur-Rehman summed up the negatives of the trade-show.

“I have been here since morning and I did not come across a single foreigner. Neither have I seen any representatives of the KCCI and FPCCI. If potential investors are not there, then there is no point of this show.”

Yet another issue was the lack of female representation. Of the over dozen or so speakers and panelists, not even a single woman was there to share her experiences.

Despite a hefty allocation of Rs871 million for the promotion of tourism in this year’s provincial budget, there was no mention of the revival of tourism in KP which boasts of scenic hilly retreats, Buddhist sites and other archeological attractions.