PESHAWAR: The Khyber Pakhtunkhwa (KP) government on Thursday approved life insurance for its entire population and seven other flagship projects.
During a meeting chaired by Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur, the cabinet flagship projects including life insurance for the entire population, establishment of the Islamic Takaful Insurance, a solarisation programme and a scheme for home-stay tourism were approved.
Other flagship projects including the construction of the Peshawar-Dera Ismail Khan Motorway, the construction of 120-kilometre transmission line, the construction of trading corridor hub and the establishment of the debt management fund were approved.
It was decided that all these projects should be completed by the end of 2027.
In line with social protection, the life insurance scheme for all citizens would be second to the health card scheme from the Pakistan Tehreek-i-Insaf (PTI) government.
Under the life insurance scheme, Rs0.5 to Rs1 million will be handed over to the heirs on the demise of the head of the family.
The life insurance and the health-card scheme will be maintained and carried out by the Islamic Takaful Insurance Company.
As an international trade corridor, the KP government’s project of Peshawar-Dera Ismail Khan Motorway will cover a distance of 365-kilometre . This motorway will pass through 12 districts and connect the province with Punjab and Balochistan.
During the meeting, it was also decided to construct a 120-kilometer-long 220 kV transmission line from Swat to Chakdra.
This transmission line will provide electricity to the local industries at cheap rates from hydropower plants of the provincial government to be built in Swat and other adjacent areas.
Upon the completion of this project, the KP’s government will generate an annual revenue of Rs54 billion.
The participants of the meeting agreed to construct a trade corridor hub at Torkham border to promote trade with Afghanistan and Central Asian states.
In this regard, a trade facilitation centre will be set up in Peshawar and a freight railway service from Peshawar to Torkham will be launched.
Under the solarisation scheme, under-privileged families will be provided with solar units and all government buildings will be switched to solar energy.
In the first phase, 65,000 low-income householders will receive free solar units, while other 65,000 citizens will be provided with solar units on easy installments in the second phase.
Under the home-stay tourism programme, a concept of tourist accommodation within homes in far-reaching tourist areas will be launched. The provincial government will facilitate loans to residents to enable them to offer lodging facilities to tourists within their properties.
The government also approved to create a debt management fund which will make KP the first province to establish such a fund. It will improve the financial management of the province.
At least 5 per cent of the provincial government’s total debt will be deposited into this fund, ensuring timely pay-back of debt-installments and the availability of funds to develop major projects.
During the meeting, the chief minister said that all these flagship projects aim at protecting social security for provincial citizens, developing trade and tourism, and creating employment opportunities for the provincial people.
Additionally, he said that upon the completion of these key projects, KP will not only become a centre of tourism and trade activities but also bring about a financial revolution in the province.
He also added, “We need to make the province a modal and financially self-sufficient and for that it requires extraordinary initiatives.”