KP Reviews Lease Policy Amendments to Boost Investment, Ensure Clarity in Rules

By NEWS DESK STAFF
3 Min Read

A meeting of the committee to review the proposed amendments to the lease policy in Khyber Pakhtunkhw was held at the office of the Secretary Tourism and Culture.

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The meeting was presided over by Advisor to Chief Minister Khyber Pakhtunkhwa for Tourism and Culture Zahid Chanzeb.

Special Assistant to CM Khyber Pakhtunkhwa for Anti-Corruption Mussaddiq Abbasi was also present on this occasion. Senior Member Board of Revenue, Secretary Tourism and Culture, Director General Khyber Pakhtunkhwa Culture and Tourism Authority and Director General Kaghan Development Authority attended the meeting.

DG Khyber Pakhtunkhwa Culture and Tourism Authority Tashfeen Haider presented a brief overview to the participants of the meeting regarding the proposed amendments in the Khyber Pakhtunkhwa Lease Policy.

Adviser Tourism and Culture hailed the formation of the committee regarding the amendments in lease policy rules and said that the committee has a key position regarding the promotion of investment. He said that if the investment increases, the economic condition of the country, including the province, will improve. He said that in order to attract investors, the lease duration should be kept in mind in the lease policy rules and it should be extended to long term so that the risk could be reduced and the investors feel safe.

Regarding the auction process in relation to the lease, the Advisor for Tourism and Culture said that the rules should be clear in this regard and preference should be given to experienced firms in lease bidding so that timely completion of projects is possible.

On this occasion, Special Assistant for Anti-Corruption, Mussadeq Abbasi, expressed his views and said that to avoid legal complexity and confusion, it is necessary to change the title of the document because amending rules or laws are easier than amending policies. He further said that in relation to amendments in the rules, clear definitions of terms should be ensured and grievance redressal mechanisms should be clearly presented in order to avoid court proceedings in business done by government to ensure timely completion of projects.

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