Govt to Launch Residential Scheme for Overseas Pakistanis to Attract Remittances Through RDAs

The Federal government has decided to launch a residential scheme for Overseas Pakistanis to attract remittances through Roshan Digital Account (RDA).

Sources told ProPakistani that the Ministry of Interior proposed to the federal cabinet, which is scheduled to meet on Tuesday (today) under the chair of Prime Minister Imran Khan, to approve the project for Overseas Pakistanis at Park Road Zone-4 under RDA incentives.

Sources revealed that government plans to construct 6000 housing units for about 40,000 people of different categories ranging from 970 sqft (one room) to 2300 sqft (5 rooms).

Sources also informed that the government aims to bring direct remittance of approximately $2 billion through this $700 million project as authorities consider this an essential component of foreign reserves of the country. Park Enclave Heights Islamabad will be a state of art housing concept in smart housing, which will bring a paradigm shift in urban design practices of Islamabad.

In addition, the scheme will have a number of features, including more than 80 percent of the area being placed for the provision of green cover, forests, parks, sit-outs, civic amenities like sewerage with a smart and intelligent.

Moreover, it will add to the accessibility to the area as two wide avenues of 100 feet are proposed to approach the site that will feed Kuri and Park Road.

Sources said that the Capital Development Authority has also proposed to engage global marketing companies for marketing and selling the apartments to overseas Pakistanis throughout the World.

Sources said that the applicants (Overseas Pakistani) would have the facility to submit their application forms to IDLF directly or through the marketing companies, along with a membership fee of 1000 dollars to be paid through Roshan Digital Accounts (RDA).

The applications received in this regard will be placed for balloting only for further allocation of apartment number/location, and balloting will be carried out through a transparent procedure by NADRA.

Keeping in view the urgency for encouraging foreign direct investment and priority to meet the deadline, it is proposed that FWO may be appointed to execute the project in design and build mode per PPRA rule 21.

In view of the above, CDA has proposed to develop a selection criterion and explained so as to boost the potential and acquire professional service in this specific field.

In addition, an application process that is RDA compliant has been proposed so that all applicants receive the benefits of the RDA facility on a first-come serve basis. Sources said that Prime Minister next month would launch the project in coordination with the Board of Investment.