First Phase of Naya Pakistan Economic Zone in Islamabad to Be Completed in a Year

Naya Pakistan Economic Zone project will be completed in 3-4 phases starting from Faizabad and ending near Rawat alongside Islamabad Expressway, says Chairman Naya Pakistan Housing Association (NPHA).

Adviser to Prime Minister on Finance, Dr. Abdul Hafiz Sheikh chaired a meeting in this regard at the Finance Division. The meeting was called to analyze the different Financial Models for “Naya Pakistan Economic Zone alongside Islamabad Expressway”.

Chairman NPHA, Lt. Gen ® Ameer Ali Haider briefed the meeting on the overall details of the project. The chairman said that the project will be completed in 3-4 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 a public-private partnership model. Different financial models were looked into for the completion of the project in consultation with State Bank of Pakistan and FBR.

The Adviser said that the government supports the development of the housing sector as it has the potential to provide employment opportunities to the youth. He also assured of providing all possible assistance for any financial plan that is prepared, following all the relevant laws of the country.

He emphasized on the need to incentivize the real estate sector as it can attract investment from Pakistani diaspora. The Adviser ordered to hold another meeting with all the relevant stakeholders this week for analyzing any financial plans prepared by NPHA for this project.

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