Hafeez Shaikh expresses govt's support to development of housing sector

Dunya News

The adviser emphasized the need to incentivize the real estate sector

ISLAMABAD (Dunya News) – Adviser to Prime Minister on Finance Dr Abdul Hafeez Shaikh on Monday expressed government s support to the development of housing sector as it has the potential of providing employment opportunities to the youth.

He said this while presiding over a meeting in Islamabad on Monday to analyze the different financial models for "Naya Pakistan Economic Zone alongside Islamabad Expressway".

The adviser emphasized the need to incentivize the real estate sector as it can attract investment from Pakistani diaspora.

Shaikh further directed to hold another meeting with all the relevant stakeholders in the current week for analyzing any financial plans prepared by NPHA for this project.

Earlier, Chairman Naya Pakistan Housing Association retired Lt. Gen Ameer Ali Haider briefed the meeting on the overall details of the project.

The meeting was informed that the project would be completed in three to four phases, starting from Faizabad and ending near Rawat.

FWO is working with NPHA on the feasibility of the project and the idea is to complete the first phase in a year s time under the public private partnership mode. Different financial models were looked into for the completion of the project in consultation with State Bank of Pakistan and FBR.