Hafeez Shaikh emphasizes need to incentivize real estate sector

ISLAMABAD: Adviser to Prime Minister on Finance Dr. Abdul Hafeez Shaikh emphasized the need to incentivize the real estate sector as it can attract investment from Pakistani diaspora, Radio Pakistan reported. 

He was chairing a meeting in Islamabad on Monday to analyze different financial models for “Naya Pakistan Economic Zone alongside Islamabad Expressway”.

Shaikh assured government’s support for the development of the housing sector as it has the potential of providing employment opportunities to the youth.

The adviser further directed to hold another meeting with all relevant stakeholders in the current week for deliberating upon the financial plans prepared by Naya Pakistan Housing Authority (NPHA) for this project.

Earlier, Chairman NPHA 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.

Frontier Works Organization 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 being looked into for the completion of the project in consultation with State Bank of Pakistan and Federal Board of Revenue.