First Economic Zone of Capital to Build Along Islamabad Expressway

Federal Government of Pakistan has decided to build Naya Pakistan Economic Zone alongside Islamabad Expressway, from Faizabad till Rawat. It is going to be the first ever economic zone of Capital, Islamabad. This economic zone is decided to build in 4 phases.

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Adviser to PM on Finance, Dr. Abdul Hafiz Sheikh chaired a meeting on Monday. Lieutenant General (R) Amir Ali Haider, Chairman, Naya Pakistan Housing Authority (NPHA), informed attendees about the overall plan of this mega project.  The meeting was called to discuss various Financial Models for Naya Pakistan Economic Zone.

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As per Mr. Haider, Frontier Works Organization (FWO) & NPHA both are working on its feasibility study, financial planning & designing. The first phase is expected to complete in one year. Furthermore, it is planned to be a public-private partnership model. Mr. Shaikh assured that government will provide every possible support in terms of finance, planning & other legal matters. Moreover, State Bank of Pakistan & Federal Board of Revenue (FBR) will also look into proposal before the final wording.

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This envisions to create ample employment opportunities for new generation in NPHA. In addition, this economic zone will also serve as a golden opportunity to encourage overseas Pakistanis for investment.

News Source : Dunya News

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