Prime Minister Imran Khan recently announced the Naya Pakistan Housing Scheme as the PTI government plans to provide 50 lac houses to the people of Pakistan. The Chairman of the Naya Pakistan Housing Association (NPHA) has said that the Naya Pakistan Economic Zone will be completed in three to four phases. The economic zone project will start from Faizabad and end at Rawat near the Islamabad Expressway. The completion of all four phases of the Naya Pakistan Economic Zone will take some time but it is expected that the first phase of the economic zone will be completed within a year only.
Dr. Abdul Hafeez Shaikh, Adviser to PM on Finance, chaired a meeting on the project which was called to discuss different financial models of the Naya Pakistan Economic Zone. The NPHA and FWO are working on different feasibility projects so that the first phase can be completed within a year through public-private partnership model. During the meeting, Dr. Abdul Hafeez Shaikh also looked at different financial models as well for the completion of the project. The financial models were being looked in consultation with the Federal Board of Revenue (FBR) and the State Bank of Pakistan (SBP).
Hafeez Shaikh said that the government supports the idea of the housing sector and plans to develop this sector in Pakistan. This is because of the potential that the housing sector has and also because of the employment opportunities that are available for the youth in this sector. The real estate sector was described by the Adviser as an attractive opportunity for the investors who can invest to get amazing returns on it. Hafeez Shaikh is all set to hold another meeting in the next week in which all the financial plans will be analyzed that have been prepared by the NPHA.