Daily Times

Minister for Finance and Revenue Senator Mohammad Ishaq Dar on Wednesday chaired a progress-review meeting on the development projects carried out by the Capital Development Authority (CDA), especially its housing schemes for overseas Pakistanis. The meeting was apprised that CDA has initiated a number of short-term and medium-term housing projects for overseas Pakistanis, out of which the Nilore Heights-I is in the completion phase for which over 6,000 applications have been received from 81 countries against 2,000 flats, a news release said. Highlighting the importance of overseas Pakistanis in the economic and financial development of the country, Ishaq Dar directed the CDA authorities to expedite the works on the development projects for the countrymen living abroad. He also directed the CDA authorities to hold balloting of the Nilore Heights-I project, which was exclusively developed for Overseas Pakistanis, before May 8 instead of May 16, 2023. The meeting was briefed on the provision of commercial and residential plots for overseas Pakistanis on an open auction basis. In the next phase, it was informed that registration for plots in C-14 and C-16 sectors for overseas Pakistanis would commence for which special facilitation desks have been established in the CDA. For the auction of commercial plots, the Finance Minister directed extending incentives to those investors who pay the amount in US dollars so that foreign exchange reserves could be further bolstered. He asked 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 and ensuring maximum interaction using the digital platform developed for this purpose. Ishaq Dar also 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.” Among others, the meeting was attended by Special Assistant to Prime Minister (SAPM) on Finance Tariq Bajwa, SAPM on Revenue Tariq Pasha, Secretary of Finance, Chairman CDA, Member (Planning & Design) CDA, and senior officers from Finance Division and CDA.