Prime Minister Shehbaz Sharif has taken decisive action by initiating an investigation into the Capital Development Authority (CDA) over the launch of the Nilore Heights project. This housing scheme, in collaboration with the Naya Pakistan Housing Development Authority (NPHDA), involved the allocation of CDA’s land and funds. However, certain issues were overlooked during the project’s launch, prompting the Prime Minister’s intervention.
Addressing the Issues: Prime Minister Shehbaz Sharif’s Inquiry
Prime Minister Shehbaz Sharif expressed dissatisfaction with the Capital Development Authority’s failure to address the crucial issues before launching the Nilore Heights project. In response, he ordered an inquiry and assigned his aide, Ahad Cheema, to form an inquiry committee. Finance Minister Ishaq Dar also raised concerns regarding the CDA during the meeting, highlighting the importance of rectifying the situation.
The Background: CDA’s Plans and the Setback
Initially, the CDA had planned to exclusively sell 2,000 apartments to overseas Pakistanis as part of the housing scheme. However, the Naya Pakistan Housing Development Authority had already allocated some of these apartments to low-income individuals. Recognizing the potential to boost foreign exchange reserves, the government supported the CDA’s decision to sell these flats to expatriates.
Unfortunately, the project faced a setback when a case was filed against the CDA’s planned balloting in the Islamabad High Court. Consequently, the balloting, which was originally scheduled for May 16, had to be postponed. This delay highlighted the need for a thorough investigation into the matter.
Interest and Future Phases of the Housing Project
Despite the legal challenges, the housing project for overseas Pakistanis has garnered significant interest. Around 7,000 applications were received for the initial phase, which includes the 2,000 apartments slated for sale. The balloting, however, could not proceed as planned due to the ongoing litigation. The CDA intends to sell 2,000 apartments in the first phase and has an estimated 2,400 apartments available for sale in the upcoming second phase.
Renaming and Disassociation: From Farash Town to Nilore Heights
Originally named the ‘Farash Town’ apartment scheme in 2021, the project underwent a rebranding process and is now known as Nilore Heights. In addition, the CDA has decided to seek disassociation from the Naya Pakistan Housing Development Authority, as the latter did not share the project’s cost with the CDA. This step aims to ensure greater autonomy and control over the project’s development.
Prime Minister Shehbaz Sharif’s initiation of an investigation into the CDA’s Nilore Heights project reflects his commitment to addressing the issues surrounding its launch. By taking decisive action, the government aims to rectify any shortcomings and ensure the smooth progress of the housing scheme. With significant interest already shown by overseas Pakistanis, it is crucial to overcome the obstacles and move forward in providing quality housing opportunities to both low-income individuals and expatriates. The upcoming phases of the project hold promise for further growth and development in the housing sector, benefitting the nation as a whole.