Egyptian company offers technical, financial assistance for housing development

Egyptian company offers technical, financial assistance for housing development

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Islamabad: An Egyptian firm has offered to assist the Pakistani government in its efforts geared towards the construction of housing units in the capital, according to news sources. As per details, the company has announced its decision to provide financial and technical assistance to accommodate slum dwellers residing in Islamabad’s katchi abadis into fully developed residential units.

Prime Minister (PM) Imran Khan recently discussed this matter with Orascom Telecom Media and Technology Executive Chairman Naquib Sawiris in a meeting. Sawiris is expected to hold various meetings with the housing ministry officials and other stakeholders to ensure that this project is completed on a timely and efficient basis. This cooperation with Egyptian investors is expected to expand in the future.

The first phase of this initiative will involve building high-rise buildings or flats, in order to accommodate as many slum dwellers as possible. Special Assistant to the PM on Overseas Pakistanis Syed Zulfikar Abbas Bukhari, during a press briefing, stated that Sawiris had shown a keen interest in the development of other sectors such as mining, tourism, and micro-banking. Orascom is expected to invest around USD 2 billion in Pakistan across various sectors, he added.

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