03-07-2012, 01:21 PM
CDA pins hopes on public-private partnership for development
ISLAMABAD – After the approval of Capital Development Authority (Amendment) Bill, 2011, which provides legitimacy to joint ventures in terms of development of city through public-private partnership by the Prime Minister, the city managers have pinned high hopes on development of stalled sectors.
Prime Minister Yousuf Raza Gilani on Saturday (February 3) accorded approval to the amendment bill that was earlier approved by CDA Board in September 2011 in the backdrop of a joint venture undertaken by CDA with a cooperative housing society to develop sector northern strip of Sector E-11 and was struck down by the apex court.
Following the Prime Minister’s approval the amendment bill now needs final approval of the federal cabinet, which would be accorded in upcoming meeting of the cabinet, said Chairman CDA Engineer Farkhand Iqbal, while talking to TheNation.
CDA Ordinance 1960 does not provide holding of joint ventures with the private partners, however, CDA officials claim it is the only way to give boost to the infrastructure as well as housing sector development in the city. “Development by holding joint ventures with private developers/partners is the proven model across the world. But unfortunately, five decades ago when CDA Ordinance was prepared it was not made part of the rules,” Farkhand said.
“Apex court had struck E-11 joint venture on the basis of this lacuna in CDA Ordinance. But now there would be no hurdle in the authority’s way to develop stalled sectors,” he added.
Farkhand Iqbal said on one part the amendment would close the door of corruption while on other it would reduce the miseries of long-neglected affected peoples of several stalled sectors. “At first I would go to find partners to develop sectors G-12 and F-12,” Farkhand informed about CDA’s future strategy.
The amendment also provides for land sharing formula with the affectees of various stalled sectors, where earlier it was optional for some sectors and compulsory for some other stalled sectors.
“Joint venture with private partners is the only way forward to develop a sector.
ISLAMABAD – After the approval of Capital Development Authority (Amendment) Bill, 2011, which provides legitimacy to joint ventures in terms of development of city through public-private partnership by the Prime Minister, the city managers have pinned high hopes on development of stalled sectors.
Prime Minister Yousuf Raza Gilani on Saturday (February 3) accorded approval to the amendment bill that was earlier approved by CDA Board in September 2011 in the backdrop of a joint venture undertaken by CDA with a cooperative housing society to develop sector northern strip of Sector E-11 and was struck down by the apex court.
Following the Prime Minister’s approval the amendment bill now needs final approval of the federal cabinet, which would be accorded in upcoming meeting of the cabinet, said Chairman CDA Engineer Farkhand Iqbal, while talking to TheNation.
CDA Ordinance 1960 does not provide holding of joint ventures with the private partners, however, CDA officials claim it is the only way to give boost to the infrastructure as well as housing sector development in the city. “Development by holding joint ventures with private developers/partners is the proven model across the world. But unfortunately, five decades ago when CDA Ordinance was prepared it was not made part of the rules,” Farkhand said.
“Apex court had struck E-11 joint venture on the basis of this lacuna in CDA Ordinance. But now there would be no hurdle in the authority’s way to develop stalled sectors,” he added.
Farkhand Iqbal said on one part the amendment would close the door of corruption while on other it would reduce the miseries of long-neglected affected peoples of several stalled sectors. “At first I would go to find partners to develop sectors G-12 and F-12,” Farkhand informed about CDA’s future strategy.
The amendment also provides for land sharing formula with the affectees of various stalled sectors, where earlier it was optional for some sectors and compulsory for some other stalled sectors.
“Joint venture with private partners is the only way forward to develop a sector.