News Details

01/02/2018

Chief Minister Khyber Pakhtunkhwa Pervez Khattak has welcomed the Russian investment to Khyber Pakhtunkhwa terming it a trust in his government pro-industrialization policy.

Chief Minister Khyber Pakhtunkhwa Pervez Khattak has welcomed the Russian investment to Khyber Pakhtunkhwa terming it a trust in his government pro-industrialization policy. The industrialization policy would guarantee the security of both investment and investors. His government made legislation providing a conducive environment for investment facilitation, eliminating red tape-ism and replacing it with a red carpet approach. This approach is guided by transparency and a promise of cooperation in all possible ways with investors. Sky is the limit of the pro-investment facilitation policy, his government introduced in the province, he added. These remarks he made during the signing ceremony of an agreement between the KPOGCL & Himmash Apparat for setting up 20,000 BPD Oil Refinery in KP today. KPOGCL and Russian consortium of investors which includes Inter-Rao Engineering and Himmash Apparat partnered with Orpheus Energy formally signed the agreement for the setting up of Oil refinery in Khyber Pakhtunkhwa at KP house Islamabad today. PTI chairman Imran Khan and Minister for Energy and Power Khyber Pakhtunkhwa Muhammad Atif Khan were present on the occasion. Speaking briefly on the occasion, Pakistan Tehreek Insaf chairman said that “During my election campaign I used to say that a time will come when foreigner’s trust on Pakistan will be restored. Today my dream of Naya KP comes true”. Investors are pouring their investment in KP just because of honest and sincere leader ship, he added. Chief Minister KP Pervez Khattak said “This project will turn out to be a game changer boosting the economy of the province and equally be beneficial for the whole of the country. This agreement signified the fulfillment of the promises, PTI made to the people of Khyber Pakhtunkhwa during its election campaign. Pervez Khattak added that “It is the result of this hard work and dedication that we have gone from RED TAPE to RED CARPET. Foreign investors are willing to invest in our province. Foreign investors want a conducive working environment and transparency in the rules and actions of a government. Our government goes one step forward than that; we promise to cooperate and facilitate all our investors in the best way possible.” K-P is considered a leader in production of crude and condensate production in comparison to other provinces. The province is said to be producing 55,000 barrels per day of oil which equals to 54pc of the total production of the country. Minister for Energy and Power, Mr. Atif Khan, said “K-P is fulfilling its responsibility by providing investors with a one-window shop facility and assuring the visiting delegation of full cooperation.” Atif Khan said that “The vast experience of Himmash in oil & gas services will help KPOGCL achieve its goal and thus the province will prosper and help the economy of Pakistan”, he said. He also said that the agreement signing with Himmash showed the confidence of international companies to work in Pakistan which gives a positive image to other potential investors in the world. He observed that all required efforts were being undertaken for fulfilling the vision of K-P govt to ensure energy security for Pakistan.