ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has directed Naya Pakistan Housing and Development Authority (NAPHDA) to review its business plan in consultation with Finance Ministry and CDA and submit it for consideration.
On May 8, 2023, the ECC was briefed that Naya Pakistan Housing and Development Authority (NAPHDA) had been established under Section 4 of the NAPHDA Act, 2020 to provide housing and real estate development and other activities relating to land construction. Section 5 of the Act provides functions of the Authority.
The post of Chairman, NAPHDA became vacant on November 24, 2022 due to the resignation of the Incumbent Chairman. On a summary moved by the Cabinet Division for appointment of a new Chairman, NAPHDA, the Prime Minister directed that Chairman NAPHDA shall give briefing to the Economic Coordination Committee (ECC) of the Cabinet on its past performance against organizational objectives.
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The Committee shall, after due deliberation, make a recommendation to the Federal Cabinet on future of NAPHDA and possible option for way forward.
Accordingly, Naya Pakistan Housing and Development Authority gave presentation to the ECC on its past performance against the organizational objectives. The ECC was requested to allow Chairman NAPHDA to brief the ECC. The ECC after deliberation may give its recommendation to the Federal Cabinet on future of NAPHDA and possible option for the way forward.
After discussion on the summary titled “ advertisement for the post of Chairman, NAPHDA - briefing to ECC on its performance,” the ECC directed NAPHDA to review its core business plan in consultation with the Capital Development Authority (CDA) and Ministry of Finance and re-submit fresh summary after consultation to the ECC.
Copyright Business Recorder, 2023
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