ISLAMABAD: Finance Minister Senator Ishaq Dar has directed the Capital Development Authority (CDA) to open new sectors, particularly one exclusively for overseas Pakistanis.

The direction came despite the fact that the CDA has failed to develop sectors where it sold plots to the citizens many years ago.

The allottees of various sectors such as E-12, 1-15, 1-12, I-11 (partially developed) have been waiting to get possession of the developed plots.

Even buyers of over 4,000 residential plots in E-12 have been waiting for the handing over of their plots for 27 years.

The finance minister on Friday chaired a meeting on the development of new sectors which was attended by CADD minister Dr Tariq Fazal Chaudhry, mayor and CDA chief Sheikh Ansar Aziz and others. A source said during the meeting the minister asked the CDA to immediately open a sector for the overseas Pakistanis. The source said the CDA chairman informed the minister that a new sector could be launched in Kuri, where the civic agency owned a large portion of land. The development of F-13 and E-13 also came under discussion.

CDA chairman says he will submit proposals to minister in two weeks

“We are not against the opening of new sectors but the CDA should first develop the sectors where plots have already been sold out,” said an officer of the land directorate.

He said the CDA would hardly have to spend around six to eight billion rupees on the development of each of the sold out sectors but could earn over Rs30 billion from each sector after selling the commercial areas.

Since 2008, instead of acquiring land from the locals the CDA has been applying a land-sharing formula under which it acquires four kanals from the local people against one kanal’s developed plot. This formula made the process of development easier as the CDA successfully launched C-15, C-16. However, sources said no visible step was being taken to start the development work in the stalled sectors or open new ones.

When contacted, the CDA chief said he had a ‘vision’ of not only starting development work on all the stalled sectors but also opening new ones.

“During the meeting, the finance minister directed us to open new sectors, particularly one for oversees Pakistanis. We sought two weeks’ time to submit our proposals. Defiantly, we will develop a state-of-the-art sector for the oversees Pakistanis.”

Meanwhile, a press release issued by the finance ministry on Sunday said during the meeting the minister was briefed on the CDA plans to develop new sectors and commercial areas. The minister said prioritisation of different options for development of new sectors should be made after detailed technical assessments.

“With an increased economic activity, the urban housing needs are also increasing and the CDA should respond to the new requirements,” the minister said, adding the government would fully support the CDA in its efforts for developing housing sectors, including one for overseas Pakistanis, in accordance with international standards.

He said the proposed sector for the overseas Pakistanis would provide them an opportunity of safe and secure investment besides quality residential environs.

“Overseas Pakistanis are keen to take advantage of the investment opportunities in the country and the only need is to facilitate them in all possible ways,” the minister said.

Published in Dawn, March 27th, 2017