Following the successful launching of “Awami Agenda” in Khyber Pakhtunkhwa, the provincial government, under the leadership of Chief Minister Khyber Pakhtunkhwa Sardar Ali Amin Khan Gandapur, is set to launch eight flagship projects in the province with the aim to 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.
These flagship projects include provision of Life Insurance for All, establishment of a Provincial Islamic Takaful Insurance Company, launching of Solarization Program, Homestay Tourism in Khyber Pakhtunkhwa, Construction of Peshawar-D.I.Khan Motorway, Construction of 120 Km long Transmission Line, Trade Corridors Hub and establishment of Debt Management Fund. All these flagship projects would be completed by the end of year 2027.
This was decided in high level meeting held here the other day with Chief Minister Khyber Pakhtunkhwa Sardar Ali Amin Khan Gandapur in the chair. Advisor to Chief Minister for Finance Muzamil Aslam and administrative secretaries of the concerned departments attended the meeting.
Briefing about the propose flagship projects, it was informed in the meeting that the Khyber Pakhtunkhwa government was first in the country to introduce universal health coverage for entire population of the province. Now raring to take leap in the same direction, the provincial government is going to unfold the facility of providing life insurance to everyone in the province, through which the government will provide compensation ranging from 5 lac to 10 lac for death of the head of family.
It was decided in the meeting to establish a 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 sustainable basis with wider coverage.
It was further decided to construct Peshawar-D.I.Khan Motorway as an international trade corridor that will traverse through 12 districts of the province spanning over 365 Km and connect the province with the provinces of Balochistan and Punjab. As integral western route, it will provide direct access to Afghanistan and Central Asian Republics.
The meeting also Okayed the project of 120 Km long 220 KV Power Transmission Line to be constructed from Swat to Chakdara. This project will facilitate evacuation of clean and environment friendly power to be produced through Hydro Power projects of the provincial government. It will generate Rs. 54 billion annually for the provincial kitty leading self-sustainability of the province. Moreover, it will not only boost economic activities by providing electricity at cheaper rates to the industries but will also provide relief to the poor people through provision of electricity at discounted prices.
Moreover, it was also decided to establish Trade Corridors Hub at Torkham aimed at facilitating and streamlining the trade activities with Afghanistan and Central Asian Republics. A dedicated Cargo Railway Track from Peshawar to Torkham would be constructed for this purpose.
Similarly, solarization scheme would be another flagship initiative of the incumbent provincial government. In the first phase of this program, 65,000 units of solar powered energy solution will be provided to the low-income households of the province. In the second phase, 65,000 units will be provided on loan on easily repayment installment. Additional all the government offices will be solarized across the province.
The meeting also nodded to the concept of Homestay Tourism which is not only eco-friendly but will also help residence of far-flung areas to earn their livelihood. This concept will offer an accommodation where tourists gets a chance to live with the host family and experience the local culture. The government will 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.
In order to streamline the management of the financial matters of the province, it was decided to establish Debt Management Fund under the provincial government. This is the first step of its kind in Pakistan representing a pioneering efforts to enhance provincial fiscal resilience and improve fiscal management. The government is committed to allocate at least 5% of the total provincial debt to the Debt Management Fund. The fund will function like sovereign wealth fund, supporting high impact projects with less dependence on borrowing, promoting long term fiscal sustainability.
Emphasizing the need and importance of these flagship projects, the Chief Minister said that all these projects, on completion will pave the path of financial self-sustainability of the province. “The purpose of these flagship projects is to empower the community for taking 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 remarked. The chief minister maintained the initiative will 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 these projects would be completed on priority basis.
