Adviser to Finance Minister Dr Abdul Hafeez Shaikh on Monday stressed the need to encourage the real estate sector to attract investment from the Pakistani diaspora, reported Pakistan.
Presiding over a meeting to analyze the different financial models for “Naya Pakistan Economic Zone next to Islamabad Highway” in Islamabad, the councilor assured of the government’s support to the development of the housing sector as it has the potential to provide employment opportunities to the youth, Radio Pakistan reported.
He ordered the concerned officials to hold another meeting with all relevant stakeholders this week to analyze any financial plans prepared by the Naya Pakistan Housing Association (NPHA) for the above-mentioned project.
Earlier, NPHA (r) Lieutenant General Ameer Ali Haider informed the meeting about the general details of the project.
It has been reported that the project will be completed in three to four phases, starting from Faizabad and ending near Rawat.
“The Border Workers Organization is working with NPHA on the feasibility of the project. The aim is to complete the first phase after one year under the public-private partnership regime. Different financial models are being explored for the completion of the project in consultation with the State Bank of Pakistan and Federal Board of Revenue, ”he added.
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