Dar reviews progress of CDA development projects

ISLAMABAD, APR 26 (DNA): 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. DNA