APP61-13 ISLAMABAD: July 13 - Finance Minister, Senator Mohammad Ishaq Dar chairing meeting on matters concerning housing sector for overseas Pakistanis. APP

ISLAMABAD, July 13 (APP): Finance Minister, Senator Ishaq Dar
Thursday directed the Capital Development Authority (CDA) to undertake planning and development work for a sector for overseas Pakistanis on fast track basis.
Chairing a meeting on matters related to development of a new
residential sector in Islamabad for Overseas Pakistanis, the minister said the government had included the provision for development of the sector for overseas Pakistanis in the budget 2017-18.
Minister for Capital Administration and Development Division (CADD),
Tariq Fazal Chaudhry, Secretary CADD, Secretary Finance, Mayor of Islamabad, and other senior officials of relevant departments participated in the meeting.
The development of the sector was announced during finance minister’s
budget speech in the National Assembly, according to press statement issued by the ministry.
The minister said Pakistani diaspora was keen to invest in Pakistan
and the government was keen to provide them opportunities for safe and profitable investment in different areas.
He said the government would fully support CDA for developing this
sector in accordance with international standards, adding the growing housing needs of Islamabad would also be catered for through development of new sectors.
Earlier, the meeting was given a detailed presentation on CDA’s plan
for development of the new sector including its key features and the proposed site for the same.
The sector would include all modern facilities such as state of the art
shopping mall, commercial boulevard, modern hospital, educational institutions, play land, a theme park and sports facilities with proper back up for electricity.
The meeting was informed that land for the sector had already been
acquired and CDA intends to hire services of reputed firms for detailed design/ town planning for the new sector. The project’s investment potential was estimated at well over Rs.100 billion.
On the occasion, the Minister for CADD said they were highly
encouraged by the interest evinced by the finance minister and his support for the project, adding it was an important initiative and would be implemented at a fast pace.
Mayor Islamabad thanked the minister for his support and assured him
that the project would be implemented at a fast pace.

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