Compensation of Rs1m for those under 60, Rs500,000 for those over 60, with Rs4.5b annual cost borne by provincial govt
The Khyber-Pakhtunkhwa (K-P) government has announced an array of transformative initiatives aimed at driving sustainable development, enhancing public welfare, and boosting the provincial economy. These initiatives, set to roll out in early 2025, include the launch of a life insurance scheme, solarisation of government buildings, and the establishment of an Islamic Takafal Insurance Company.
Life Insurance Scheme Launching January 2025
Starting January 1, 2025, the provincial government will introduce a comprehensive life insurance scheme designed to support families who lose loved ones. The scheme offers financial compensation of Rs1 million for individuals under 60 years of age and Rs500,000 for those over 60. This initiative, with an annual budget of Rs4.5 billion, will cover deaths occurring in government hospitals or health card network facilities.
This move underscores the government’s commitment to providing a safety net for its citizens, ensuring that families facing tragedy receive meaningful support.
Establishment of Islamic Takafal Insurance Company
Within the next three months, the K-P government will set up a provincial Islamic Takafal Insurance Company, which will operate in line with Islamic financial principles. The company will manage insurance services and introduce a variety of Sharia-compliant insurance products, offering an alternative to conventional coverage options.
Energy Infrastructure Developments
Energy infrastructure is also a top priority. The provincial government is expediting its transmission line project (Lot-1), which involves the construction of a 40-kilometre, 220 KV transmission line between Muttalitan in Swat and Bahrain. With a budget of Rs8 billion, this project will facilitate the evacuation of power from the 84-megawatt Muttalitan Hydropower Project. Completion is expected within 18 months.
Further plans for Lot-2 include a 120-kilometre transmission line connecting Bahrain to the Chakdara Grid Station, enhancing the province’s energy capacity and infrastructure.
Land Acquisition for Peshawar-Dera Ismail Khan Motorway
To advance the Peshawar-Dera Ismail Khan motorway project, the Chief Minister directed the finance department to release Rs2 billion for land acquisition. The process will begin simultaneously in both Peshawar and Dera Ismail Khan, paving the way for this critical connectivity initiative.
Solarisation of Government Buildings
In line with its commitment to renewable energy, the K-P government is fast-tracking the solarisation of government buildings. Relevant data collection is underway, and implementation is set to begin in the coming months. This project aims to reduce energy costs and promote environmental sustainability across the province.
Debt Management Fund
To improve fiscal sustainability, the government plans to establish a Debt Management Fund expected to generate Rs400 million to Rs500 million in monthly revenue. The Chief Minister has directed the immediate transfer of initial funds to kickstart this initiative.
Promoting Tourism and Trade
Recognising the importance of tourism as a driver of economic growth, the K-P government will introduce a Home Stay Tourism scheme by January 2025. This program aims to boost local tourism by providing visitors with affordable and authentic lodging options.
Additionally, the provincial government plans to advance the Trade Corridor Hub project in collaboration with federal authorities. This initiative is expected to bolster trade and economic activity in the region.
A Vision for Progress
Under the leadership of Chief Minister Ali Amin Khan Gandapur, the Khyber-Pakhtunkhwa government is taking bold steps to modernise infrastructure, improve public services, and create new opportunities for its citizens. These projects highlight a clear vision for a prosperous, self-reliant province, leveraging innovation and sustainability to meet the needs of the present and future.
This progressive agenda is set to transform Khyber-Pakhtunkhwa, ensuring long-term benefits for residents and driving regional development.
