FM urges CDA to accelerate development projects for overseas Pakistanis

April 26, 2023 (MLN): Finance Minister Senator Mohammad Ishaq Dar on Wednesday directed the Capital Development Authority (CDA) to fast-track the development projects for overseas Pakistanis, said a press release issued by Finance Division after a meeting on CDA’s projects for overseas Pakistanis.

The meeting reviewed the progress on the development projects carried out by CDA, especially for overseas Pakistanis.

He further directed the CDA to hold balloting of the Nilore Heights-I project, which is exclusively developed for Overseas Pakistanis, before May 8, 2023, instead of May 16, 2023.

In addition to it, authorities have been directed to expedite work on Kuri and Overseas Enclave projects and the scheme for the auction of plots in C-14 and C-16 sectors should be ready by mid of May 2023 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 6000 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.

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.

He also advised 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.

CDA has been further directed to maintain the 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.

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