ISLAMABAD: Lamaison Developers Pvt Ltd., a real estate investor, has put forth an investment proposal aimed at completing the master plan of Islamabad City based on the original 1960 development plan.
The proposal was discussed during a meeting of the National Assembly Standing Committee on the Board of Investment, where it garnered attention and interest.
Representatives from Lamaison Developers Pvt. Ltd. presented an investment project to the committee, highlighting its potential to generate a substantial return of USD 2 billion without requiring any government expenditure.
The real estate investment agency expressed its readiness to undertake the task of completing the master plan of Islamabad City, aligning it with the original development plan from 1960.
Recognizing the significance of the proposal, the committee emphasized the need to involve all relevant stakeholders in further discussions before reaching a final decision.
Key stakeholders, including the Ministry of Housing and Works, FGECHA, CDA, and the local administration of Islamabad, were deemed crucial to be part of the dialogue to gather input and insights.
During the meeting, the Ministry also provided updates on investment facilitation initiatives, including the introduction of a One-Stop Shop initiative to streamline investment procedures for Special Economic Zones.
The committee was informed that this initiative is awaiting approval from the Cabinet Committee for Disposal of Legislative Cases.
Additionally, the Ministry highlighted the appointment of Honorary Investment Counsels in different countries on a pro-bono basis, aimed at attracting more investment.
The committee members were also briefed on the “Asaan Karobar Bill,” which has been submitted to the Cabinet for recommendations.
Moreover, the Pakistan Regulatory Modernization Initiative was presented, outlining efforts to streamline business processes and enhance efficiency and investor-friendliness.
Further updates were shared regarding the creation of a Business-to-Business portal for the China-Pakistan Economic Corridor (CPEC), aimed at assisting investors.
The committee was recommended to visit the portal established by the Board of Investment to gain further insights.
The minister assured the committee of ongoing coordination with provincial Boards of Investment to ensure an effective investment procedure.
Besides, updates were also provided on Foreign Direct Investment in various projects, including the establishment of an oil refinery at Gwadar.
