KARACHI: The parent company of Naya Nazimabad, Javedan Corporation Limited (JCL), has received a sanction of PKR 1 billion from Habib Bank Limited (HBL) under SBP's Islamic Refinance Facility at zero percent (0%) mark-up for construction of Naya Nazimabad Hospital.

Nay Nazimabad had initially planned to construct this hospital in 2025 but SBP's Islamic Refinance Facility and HBL's contribution to participate in this project initiative by passing on this facility at zero percent (0%) enabled and encouraged Naya Nazimabad to advance construction of the Hospital by 4 years.

Naya Nazimabad Hospital, a tertiary, not-for-profit but self-sustainable institution, will be developed in two phases. The first phase will consist of 250 beds across 4 floors and is targeted to be inaugurated by April 2023.

First phase's architectural approval has been granted by Sindh Building Control Authority (SBCA), Government of Sindh, while engineering approval is in process at a swift pace. The Company plans to perform ground-breaking for the Hospital as soon as all requisite approvals processes are complete.-PR

Copyright Business Recorder, 2021