Daily Times

The Prime Institute and UN Habitat on Thursday signed an MoU for setting up of an Economic Development Unit (EDU) to serve as a platform for the Peshawar Municipality to engage broader stakeholders in the facilitation of economic development of the city.

According to a press release, the Peshawar Municipality will strive to attain the goals of job creation, investment flow and tax generation through EDU.

Peshawar Mayor Asim Khan welcomed the signatories at his office. He talked about his views on the utility of EDU for the economic development of Peshawar. “A city needs to create jobs and bring investment for spreading prosperity. Business growth is linked with the increase in tax revenues for the municipality. This tax flow is essential to fund the municipal services and improve upon their quality. In this manner, city livability rises that further enhances economic competitiveness,” he said.

Faiz Muhammad, the Sarhad Chamber of Commerce president, said that the business community of Peshawar fully backed the EDU venture. “The EDU will contribute in creating job and business opportunities,” he said.

Jawed Ali Khan, the Country Representative of UN Habitat, spoke about the role of UN in supporting LED initiatives in Pakistan and other countries.

He mentioned that UN Habitat was looking to establish similar EDUs in the 10 largest cities of Pakistan. He highlighted the vital role of municipalities in economic development for job creation and investment solicitation. He reiterated his understanding of the utility of EDU in expanding economic horizons of Peshawar.

Zia Banday, the Joint Executive Director of Prime, highlighted their involvement in economic-related initiatives for Peshawar. He said that the project was in line with the government’s vision of empowering and engaging local governments in economic development. EDU mechanics will comprise of a bottom-up approach, whereby the municipality will be contributing to the federal and provincial growth and poverty alleviation agenda.

The MoU signing ceremony was attended by municipal officials and representatives of business community of Peshawar.