Pakistan's Khyber Pakhtunkhwa government will issue a 30-year operational licence to Chinese firms for future power projects in the province, an official said today.
This assurance was given by Rafaqatullah Babar, advisor on Economic Affairs to Khyber Pakhtunkhwa Chief Minister and Chairman Investment Promotion Cell, to a visiting Chinese delegation.
Babar met with the delegation of Chinese hydel power investment company Zhongnan Engineering Corporation and mineral investment company Tuny-Pak Minerals.
The Chinese firms expressed interest in making investment in hydel power and mineral sectors of the province and also sought issuance of a no objection certificate in this regard.
Zhongnan Engineering will start work on a power project in Chitral from next week, officials said.
Noting that investment in the province from "friendly" China was increasing, Babar welcomed the company's initiatives.
He also noted that Chinese companies had started investing billions of dollars in different sectors and areas of the province.
The company said their survey team will start its work soon after receiving the NoC for Shoghore Chitral and will collect statistics on the flow of water in all four seasons in the area.
It said the construction of the plant would begin from next year.
The electricity to be produced from the power station to be completed in the next one and half years will be provided to local industrial units on subsidised rates.
Babar said under 'One-Window Operation' of the Khyber Pakhtunkhwa government, the Investment Promotion Cell will provide all necessary facilities with immediate effect to all domestic and foreign companies.
The CEO of Tuny-Pak Minerals and engineers told the official that they will also assist the people of northern districts in utilisation of the mineral resources, providing employment, providing best training opportunities and improve the socio-economic conditions.
