PESHAWAR: The Khyber Pakhtunkhwa government on Thursday decided to launch life insurance for all residents, build the Peshawar-Dera Ismail Khan Motorway, lay 120km-long power transmission line, and carry out a solarisation programme in the province.

The decision was made in a meeting chaired by Chief Minister Ali Amin Gandapur and attended by his adviser on finance Muzamil Aslam and administrative secretaries of the relevant departments.

According to an official statement, the eight mega projects will help build an inclusive, empowered and thriving Khyber Pakhtunkhwa by ensuring accessibility, fostering socio-economic development, providing social security and unlocking new trade opportunities for sustainable prosperity.

They include provision of life insurance for all, establishment of a Provincial Islamic Takaful Insurance Company, the launch of Solarisation Programme, promote homestay tourism in Khyber Pakhtunkhwa, construction of Peshawar-Dera Ismail Khan Motorway, laying of the 120km power transmission line, the establishment of a trade corridors hub at Torkham, and the creation of the Debt Management Fund.

Govt also says it’ll build Peshawar-DI Khan Motorway, develop trade corridors hub at Torkham by 2027

The “flagship projects” will be completed by the end of the year 2027, according to the statement.

Officials told the meeting that the Khyber Pakhtunkhwa government was first in the country to introduce universal health coverage for the entire population of the province.

They said the provincial government was going to unfold the facility of providing life insurance to everyone in the province through which compensation ranging from Rs500,000 to Rs1 million would be provided for the death of the family’s head.

The meeting decided to establish the Provincial Islamic Takaful Insurance Company to meet the growing demand for Islamic insurance within the province, and to run the social protection initiatives of the provincial government on a sustainable basis with wider coverage.

It also decided to construct the Peshawar-DI Khan Motorway as an international trade corridor traversing through 12 districts of the province spanning over 365km and connecting the province with Balochistan and Punjab.

As an integral western route, it will provide direct access to Afghanistan and Central Asian Republics, according to the statement.

The officials also approved the 120km 220kv power transmission line project from Swat to Chakdara, saying the initiative will facilitate evacuation of clean and environment-friendly power to be produced through hydropower projects of the provincial government.

They added that the project would generate Rs54 billion annually for the provincial kitty leading to self-sustainability of the province.

The officials said the initiative would not only boost economic activities by providing electricity at cheaper rates to the industries but also provide relief to the poor people through provision of electricity at discounted prices.

The meeting also decided to establish a trade corridor hub at Torkham to facilitate and streamline trade with Afghanistan and Central Asian Republics.

Officials said a dedicated cargo railway track from Peshawar to Torkham would be constructed for this purpose.

They also said the solarisation scheme would be another flagship initiative of the incumbent provincial government.

According to them, in the first phase of the programme, 65,000 units of solar powered energy solutions will be provided to the low-income households of the province.

In the second phase, 65,000 units will be provided on loan on easy repayment installment. Also,all government offices will be solarised across the province.

The meeting also approved the concept of homestay tourism which was not only eco-friendly but will also help residents of far-flung areas to earn their livelihood.

The officials said the initiative would enable tourists to live with the local families to experience the local culture.

They said the government would provide loans to the people in peripheral areas to build additional rooms for tourists ensuring provision of standard facilities.

The initiative will not only contribute to green tourism, but will also open up new venues for exploration, according to the statement.

The meeting, in order to streamline the management of the financial matters of the province, also decided to establish the Debt Management Fund under the provincial government, saying it is the first step in the country to enhance provincial fiscal resilience and improve fiscal management.

The officials said the government was committed to allocate at least five per cent of the total provincial debt to the Debt Management Fund.

They said the fund would function like a sovereign wealth fund, supporting high impact projects with less dependence on borrowing, promoting long-term fiscal sustainability.

On the occasion, the chief minister emphasised the need and importance of those flagship projects, saying all those initiatives will pave the path of financial self-sustainability of the province.

“The purpose of these flagship projects is to empower the community to take control of their socio-economic uplift through improved accessibility and exploitation of economic and micro resources and improved fiscal space at the disposal of the provincial government,” he said. The chief minister said the projects would improve to be a milestone towards promoting trade and economic activities and ensuring social protection of the people of this province. He said that all those projects would be completed on a priority basis.

Published in Dawn, October 18th, 2024