KP Leads with 7 Approved Projects
The government of Khyber Pakhtunkhwa (KP), led by Chief Minister Ali Amin Gandapur, has approved seven flagship projects aimed at boosting social welfare, infrastructure, and economic growth. These projects, scheduled for completion by 2027, include initiatives in life insurance, renewable energy, tourism, and financial stability, marking a significant step toward the province’s development.
KP Leads with 7 Approved Projects 2024
During a high-level meeting, the provincial cabinet approved seven transformative projects:
- Life Insurance for All: A universal life insurance scheme for all citizens.
- Islamic Takaful Insurance Company: Establishing a Shariah-compliant insurance company.
- Solarization Program: Transitioning government buildings and low-income households to solar power.
- Peshawar-DI Khan Motorway: Constructing a 365-kilometer trade corridor.
- 120-km Transmission Line: Providing affordable power to industries from hydropower plants.
- Homestay Tourism Scheme: Promoting tourism by offering loans for home-based accommodations.
- Debt Management Fund: Ensuring financial stability through better debt management practices.
KP Announces Life Insurance Scheme
The universal life insurance scheme will provide Rs. 0.5 to 1 million to families of deceased household heads. Managed by the newly established Islamic Takaful Insurance Company, this initiative will run alongside the province’s health card program to enhance social protection.
Establishment of Islamic Takaful Insurance Company
The Islamic Takaful Insurance Company will oversee the life insurance and health card schemes. This Shariah-compliant entity ensures inclusivity and addresses citizens’ financial security needs.
Solarization Program for Low-Income Households and Government Buildings
Under the solarization scheme:
- 65,000 Low-Income Families: Will receive free solar units in the first phase.
- 65,000 More Families: Can avail solar units on easy installments in the second phase.
- Government Buildings: Hospitals, schools, and offices will transition to solar power, promoting renewable energy and reducing reliance on the grid.
Construction of Peshawar-DI Khan Motorway as Trade Corridor
The Peshawar-Dera Ismail Khan Motorway will connect KP with Punjab and Balochistan. This 365-km corridor, passing through 12 districts, aims to enhance regional trade, including with Afghanistan and Central Asia. A freight railway and trade hub in Peshawar are also part of this plan.
120-km Long Transmission Line to Support Local Industries
A 120-km transmission line from Swat to Chakdara will provide electricity to industries at competitive rates. This initiative, powered by local hydropower plants, is projected to generate Rs. 54 billion annually for the provincial economy.
Launch of Homestay Tourism Scheme for Remote Areas
The homestay tourism program will empower residents in remote areas to host tourists. Loans will be provided to improve lodging facilities, fostering cultural exchange and boosting local incomes.
Establishment of Debt Management Fund for Financial Stability
KP will become the first province in Pakistan to create a debt management fund. This initiative will allocate 5% of the provincial debt annually to ensure timely repayments and fund new development projects.
Chief Minister’s Vision for Social Security and Economic Growth
Chief Minister Ali Amin Gandapur emphasized that these projects aim to make KP financially independent and a model province. By focusing on trade, tourism, energy, and financial stability, these initiatives promise significant improvements in the quality of life and economic opportunities for the people of KP.
Last Words
The approval of these seven flagship projects demonstrates KP’s commitment to sustainable development and social welfare. By addressing key areas such as energy, insurance, tourism, and trade, these initiatives will transform the province into a hub of economic activity while improving the lives of its citizens. For updates, visit official provincial government platforms.