The government will acquire 1,000 acres of land at the cost of Rs 9.665 billion for the establishment of the Islamabad Model Special Economic Zone.
The government will also allocate Rs. 500 million for the feasibility study for the establishment of the Islamabad Model Special Economic Zone.
According to the documents available with ProPakistani, the government has identified private land near Rawat Industrial Estate for the purpose within the vicinity of Islamabad Capital Territory, however other options for acquiring land outside the ICT area are also under consideration.
For acquiring land outside ICT territory, there are some legal impediments and the government is taking steps to remove those bottlenecks, a source said meanwhile. The project of land acquisition for the Islamabad Model Special Economic Zone will be completed in two years.
According to the plan, the Federal government will ensure the provision of land for the establishment of the zone, while it will be developed on Public Private Partnership (PPP) mode. The feasibility study of the project will be completed within 12 to 15 months, the document reveals.
It has been decided to allow the establishment of smart industrial units in the Economic Zone, said the documents. Model Special Economic Zone, official documents available with the scribe reveals.