Encouraging present and new businesses: KP govt approves Rs6b subsidy for SME sector

PESHAWAR: The KP government on Wednesday approved an amount of Rs6 billion as a subsidy to the RAAST Modernization Finance Scheme and RAAST Working Capital Financing Scheme to encourage the growth of existing and new businesses in the Small and Medium Enterprise (SME) sector.

The nod was given by Chief Minister Mahmood Khan while chairing the 63rd meeting of the cabinet, said a handout.

The chief secretary, additional chief secretary, Senior Member Board of Revenue and administrative secretaries attended the meeting besides the cabinet members.

Briefing the media persons about cabinet decisions, Special Assistant to Chief Minister on Information and Public Relations Barrister Muhammad Ali Saif said both the schemes would be implemented by the Bank of Khyber in coordination with the Industries, Commerce & Technical Education Department.

The SME sector, he said, is viewed as the backbone of an economy and the present government is highly focused on the uplift of this sector as it employs the largest workforce as well as contribute significantly to the income of the population at large.

Financing facilities to the SME sector on attractive terms and conditions in the present COVID-19 scenario will provide necessary support in terms of liquidity which is directly needed to sustain the businesses and associated employment, he added.

Barrister Saif said the chief minister has directed for framing rules within one month for all the acts and submit the same to the cabinet for approval.

The special assistant said the cabinet okayed the Khyber Pakhtunkhwa Apprenticeship Bill 2021 which will ensure protecting the rights of the apprentices undergoing training at the industrial establishment.

The cabinet accorded approval to formally launch the Summary Automation System (SAS), which is a web/mobile-enabled integrated application to digitally generate, process and approve various summaries and notes for the chief minister and chief secretary.

The system will enable the departments to move the summaries and notes through this App.

The cabinet, Barrister Saif said, accorded approval to the KP Print, Electronic and Social/Digital Advertisement Policy 2021 to ensure effective media projection of the government initiatives/achievements at the grassroots level through all modern mediums of communication including social/social media influencers, electronic as well as digital media.

The cabinet gave go-ahead to the amendments to the Khyber Pakhtunkhwa Antiquities (Amendment) Act-2016 enabling the department concerned to take action against the illegal diggers of the antiquities as well as to process the court cases.

Moreover, the cabinet approved the proposed panel of the Board of Directors for Water and Sanitation Services Peshawar in light of the recommendations of the committee headed by the minister for Local Government.

Barrister Saif said the cabinet approved the nominations of nine members for the reconstitution of the KP Pharmacy Council Peshawar.

A special Shuhada Package was approved for the late Mubashir Ahmad, who jad died during firing on Dilzak Road, Peshawar on March 8, last year.

The cabinet also approved the payment of the remaining compensation to the deceased persons of erstwhile Khyber Agency.

Approval was given to the provision of relaxation of KPPRA Rules for Tourism Area Integrated Development Project, sub-heads Kalam and Naran to regularize the enhanced contract cost of the project.

The cabinet approved the status of integrated tourism zones to three tourism spots in the province including Ganhool (Mansehra), Mankial (Swat) and Madaklasht (Chitral) which will be presented during the Dubai Expo to attract foreign investors.

Approval was granted to the re-appointment of Habib Raza as Director General Galiyat Development Authority in light of the decision of the Peshawar High Court, Abbottabad Bench.

The cabinet approved the proposal for repealing Khyber Pakhtunkhwa Benevolent Fund (Allotment of plots to government servants) Rules- 1989.

It was done to arrange payment of compensation to the legal heirs of the deceased employees in lieu of plots.

The cabinet okayed the KP Right to Information Amendment Act, 2021 which will make the RTI more effective and ensure that the citizens have an effective access to information, held by public bodies.

The cabinet accorded approval to the Provincial Ombudsman Khyber Pakhtunkhwa Annual Report-2020 for its onward submission to the Provincial Assembly as required under section 27 (5) of the Khyber Pakhtunkhwa Provincial Ombudsman Act, 2010.

The provincial cabinet approved placing six kanal land at the disposal of District Judiciary, Nowshera for the establishment of courts at Tehsil Pabbi.

The cabinet approved the compensation package for judges of the Peshawar High Court and regular employees of its principal seat and its benches.