KPEZDMC ordered to confirm land prices to China Century Steel Mills

Islamabad: Pakistani Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal on Monday afternoon held a meeting with officials of China Century Steel Mills (Pvt) Limited, in line with the Prime Minister Shehbaz Sharif’s directives to remove all barriers impeding industrial development.

The minister instructed the board of Investment (BoI), the Power Division and the Federal Board of Revenue (FBR) to address the issues hindering industrial development promptly, an official statement said.

Specifically, he directed the Khyber Pakhtunkhwa Economic Zones Development and Management Company (KPEZDMC) to confirm land prices to the company at the earliest, by their demands.

KPEZDMC officials briefed the minister that the company had requested discounted rates for land per acre.

The Chinese consultant cited examples from China, where land is often provided free of charge to industries in Special Economic Zones, emphasizing the need for similar incentives in Pakistan.

Addressing concerns over power tariffs, the minister directed authorities concerned to maintain a reasonable distribution margin and ensure that the zone receives power at the same rates as regular consumers.

Ahsan Iqbal also instructed the FBR to conduct a consumption survey in the erstwhile FATA and PATA regions to estimate anticipated power consumption accurately.

He questioned why such a high capacity had been approved initially, underscoring the need for better planning to avoid unnecessary delays in industrial operations.

The minister also directed relevant officials to involve businessmen of the Peshawar Chamber of Commerce and Industry to consider their suggestions while solving the problem.