Financial institute in Fata: contract signed to initiate feasibility study

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The Fata Investment Facilitation Authority (Fifa) on Monday signed contract with a firm to conduct feasibility study for establishment of a financial institute in Fata.

In this regard, a formal contract signing ceremony held here at Fata Secretariat between Fifa and Masers'Anjum Asim Rehman/Grand Thornton, a consultancy firm, which could conduct a feasibility study for establishment of financial institution/bank.

The contract was signed by Fifa Secretary Arshad Majid and Director Grand Thornton, Khalid Safdar. On the occasion, Farukh Siar Secretary Production and livelihood Development Department Fata, Haroon Qazi Project Manager Fifa, Suleman Khan, Deputy Secretary Finance Fata, Tashmeen Haider Deputy Secretary Administration Fata and Abdul Hadi Investment Facilitation Officer were present at the ceremony.

While speaking on the occasion, Secretary Fifa Arshad Majid said the department had finalised a well-reputed firm after hectic efforts to make contract for establishment of a financial institution in Fata. The firm had been selected out five, following analyses all aspects, he added. He regretted that Fata had been badly hit by the menace of militancy and terrorism.

Courtesy: Business Recorder

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