Pak Army-backed firm begins 'real estate project' on 129 acres land in Karachi

Pakistan Army-backed investment body Special Investment Facilitation Council (SIFC) has started a 'real estate project' on Karachi Port Trust's property in the metropolis.

Pakistan set up the SIFC, a hybrid civil-military forum, in June last year to attract international investment, particularly from Gulf countries, in its key economic sectors. 

The 129-acre land is situated in front of the US Consulate office in the port city.

Minister of Maritime Affairs, Qaiser Ahmed Sheikh, said that the project aims to give more earning opportunities to government-run agencies.

He made the remarks while addressing the media at the launching ceremony of the project.

Earlier, SIFC signed an agreement with Saudi Arabia’s Najd Gateway Holding Company to “cultivate 5,000 acres of alfalfa cattle fodder”.

Fodder is a major source of protein for livestock and is also a staple diet for dairy cattle, cow, sheep, goats, horses, and other domestic animals.

Under the agreement, the cultivated fodder would be exported to countries with a shortage of livestock protein.