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ICCI members briefed about

New Islamabad

City project

ISLAMABAD: Representatives of National Housing Authority (NHA) Housing Scheme Zone-5, which is one of the public sector partners in the development of the Islamabad New City, gave a detailed briefing on the New City project to the members of the Islamabad Chamber of Commerce and Industry (ICCI), the other day.

The briefing session was presided over by the President of the Islamabad Chamber of Commerce Munawar Moughal. Shahid Rashid Butt, Chairman ICCI founder group co-chaired the meeting. Shamoon Sadiq of NHA Housing Scheme Zone-5, led his team at the briefing.

Briefing on the project commenced with screening of a video documentary on the Islamabad New City project. This was followed by a question-answer session, which focused on some of the major elements of the project, such as security of investment, financial standing of the main financiers, land acquisition, price of plots, role of CDA and NHA, legal aspect of the whole project, etc.

Representatives of NHA, Shamoon Sadiq, during the briefing said that NHA would be happy to offer land in the Islamabad New City, to ICCI at special price assessed for institutional buyers. It was further proposed by the representative of NHA, that ICCI may be nominated to the Advisory Board of the New City project, along with stock exchange, and other similar institutions.

Appreciating the importance of ICCI, and to ensure its participation in the New City project, Shamoon Sadiq proposed that a committee of members of ICCI and NHA be constituted to meet and work out the details and modalities of cooperation between the two organizations. It was decided that the first meeting of the committee will be held in the first week of May, when a visit to the site of the New City project will also be arranged by NHA.-APP