Dar assures govt’s support in KP’s economic uplift

• KP CM voices KP’s interest to be incorporated in Pak-China Energy Corridor as he discusses water, gas, hydel profit issues with Finance Minister Dar

Finance Minister Ishaq Dar Tuesday assured Khyber Pakhtunkhwa (KP) Chief Minister Pervaiz Khattak of federal government’s all-out support for the province’s economic uplift.

During the two-hour long meeting also attended by Federal Minister for Water and Power Khawaja Asif, Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi and senior officials from the federal and KP governments, Dar told the Pakistan Tehreek-e-Insaf (PTI) leader that the organisations and departments engaged in development works in KP will be urged to undertake their obligations with devotion and dedication.

The minister proposed initiating a consultative process between the Centre and provinces for the allocation of projects’ funds as prioritised by the provinces themselves. He also opined that the KP government could surrender projects which it deemed unbeneficial; accordingly the funds could be redirected to other priority areas.

Dar appreciated the development projects undertaken by the province but mentioned that there had to be proper consideration and approval by Executive Committee of the National Economic Council (ECNEC) which was the right forum for this purpose.

The minister also directed Federal Board of Revenue (FBR) chairman to liaise with the representatives of the KP government and propose workable solutions for all tax-related problems.

During the meeting, Khattak voiced KP’s interest to be incorporated in the energy corridor to benefit from the number of projects being undertaken under it. The finance minister expressed support in this regard, reiterating that the federal government, in true national spirit, deemed this an obligation to extend support to all the provinces.

KP CM apprised the finance minister of issues related to Ministry of Water and Power, Ministry of Petroleum and Natural Resources, Ministry of Planning and Development and FBR.

At the outset, the chief minister highlighted the issue of outstanding payment of net hydel profit to KP. It was agreed that the issue would be taken up by Ministry of Water and Power on priority basis with inputs from National Electric Power Regulatory Authority (NEPRA) and Water and Power Development Authority (WAPDA) to propose workable options. A meeting to this effect will be held in March with due representation from KP. All other issues related to Ministry of Water and Power and KP would be discussed at working-level meetings, proposing the way forward.

Moreover, Khattak also requested for sovereign guarantees for hydro or other independent power producers (IPPs) owned by the KP government for projects above 50 MW by PEDO. It was decided that the Centre will facilitate the province in the matter so that financial close of the projects could be conveniently realised.