Hafeez Shaikh stresses need to incentivise real estate sector

Adviser to Prime Minister on Finance Dr Abdul Hafeez Shaikh on Monday stressed the need to incentivise the real estate sector in order to attract investments from the Pakistani diaspora, Radio Pakistan reported.

Chairing a meeting to analyse the different

financial models for "Naya Pakistan Economic Zone alongside Islamabad
Expressway" in Islamabad, the adviser assured of the government's support
to the development of the housing sector, as it has the potential of providing
employment opportunities to the youth, Radio Pakistan reported.

He directed the officials concerned to hold

another meeting with all the relevant stakeholders this week in order to
analyse any financial plans prepared by the Naya Pakistan Housing Association (NPHA)
for the above-mentioned project.

Earlier, NPHA Chairman Lt Gen (r) Ameer Ali

Haider briefed the meeting on the overall details of the project.

It was informed that the project would be

completed in three to four phases, starting from Faizabad and ending near
Rawat.

“The Frontier Works Organisation is working with

NPHA on the feasibility of the project. The aim is to complete the first phase
in a year's time under the public-private partnership mode. Different financial
models are being looked into for the completion of the project in consultation
with the State Bank of Pakistan and Federal Board of Revenue,” he added.