CAA directed to simplify terms to attract investment

KARACHI: The Advisor to Prime Minister for Privatisation and Investment, Dr Abdul Hafeez Shaikh, has called for simplification of terms and conditions by Civil Aviation Authority for local and foreign investors for their commercial and hotel projects on CAA land and thus to promote investment.

He was presiding over a high level CAA meeting which was attended by DG CAA, Director Commercial CAA, DG Board of Investment, Consultant Qatar-American Investment and other officials.

Dr Shaikh asked the CAA to make its terms and conditions attractive for investment in joint ventures in commercial projects, leasing out the land, enhancement of lease period and land sale.

He pointed out that vast opportunities exist for commercial projects including 5-star hotels at Karachi airport and other airports of the country.

He said now when the investors are showing interest for investment in the country, necessary steps should be taken for providing them best possible facilities and to make their investment secure. In order to save their precious time, unnecessary process stages will also have to be reduced to the minimum so as to bolster their confidence.

The meeting discussed in detail the $700 million proposed investment by Qatar-American Investment’s commercial project.

The company’s consultant, Dr Junaid briefed the meeting about project details and pin pointed the impediments in the way.

The adviser directed the meeting to give positive consideration to investment proposals. In this regard the DG CAA assured of all possible cooperation.

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