Federal Minister for Finance and Revenue Ishaq Dar chaired a meeting on the Capital Development Authority’s (CDA) projects for overseas Pakistanis, at Finance Division, today.
SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Pasha, Secretary Finance, Chairman CDA, Member (Planning & Design) CDA, and senior officers from Finance Division and CDA attended the meeting.
The meeting reviewed the progress on the development projects carried out by CDA, especially for overseas Pakistanis.
The meeting was apprised that CDA has initiated a number of short-term and medium-term housing projects for overseas Pakistanis.
It was informed that one of these housing projects namely Nilore Heights-I is in the completion phase and over 6,000 applications have been received from 81 countries for 2000 flats.
Finance Minister Senator Mohammad Ishaq Dar emphasized the importance of overseas Pakistanis in the economic and financial development of the country and directed the CDA authorities to fast-track the development projects for overseas Pakistanis.
He further directed the CDA authorities to hold balloting of the Nilore Heights-I project, which is exclusively developed for Overseas Pakistanis, before 8th May 2023 instead of 16th May 2023.
The meeting was briefed on the provision of commercial and residential plots for overseas Pakistanis on an open auction basis. It was informed that in the next phase registration for plots in C-14 and C-16 sectors for overseas Pakistanis will commence and special facilitation desks have been established in CDA to facilitate the overseas Pakistanis.
The Finance Minister directed that for the auction of commercial plots, incentives should be extended to those investors who pay the amount in US dollars so that foreign exchange reserves could be further bolstered.
The Finance Minister further directed the CDA authorities to maintain a public-friendly and transparent system for investors during the sale and purchase process by minimizing physical contact between CDA authorities and overseas investors by ensuring maximum interaction using the digital platform developed for this purpose.
He further directed to expedite work on Kuri and Overseas Enclave projects and the scheme for auction of plots in C-14 and C-16 sectors should be ready by mid of May 2023 for overseas Pakistanis.
Get the latest business news, market insights, and economic updates wherever you prefer.
Add ProPakistani to Preferred Sources and see more of our stories in Google Search and Top Stories.