PESHAWAR - The establishment of a FATA’s own financial institution is in the offing and the contract to conduct the feasibility report has been awarded to a well-reputed firm on Monday.

A signing ceremony in this regard was held between the FATA Investment Facilitation Authority (FIFA) and Masers’ Anjum Asim Shahid Rehman/Grand Thornton a consultancy firm for conducting feasibility study for the establishment of FATA Financial Institution/Bank her at the FATA secretariat.

Secretary FIFA Arshad Majid and Khalid Safdar Director Grand Thornton inked the contract documents. Prominent among those who attended the ceremony were 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.  Speaking on the occasion, Secretary FIFA Arshad Majid said that after concerted efforts of more than seven months we have been able to finalize a good consultancy firm adding selection of a firm out of the five highly reputed firms was a tiresome job.

“We are very happy to have eventually managed to select a very good consultancy firm out of the five,” Arshad Majid said. He regretted that FATA was badly hit by the menace of militancy adding we wanted to restore lasting peace in the area through a network of developmental works. He said a series of developmental activities were already underway in the region.

The secretary FIFA said that under the given circumstances we expect a lot from the consultancy firm and hope that they will put in their best efforts to get the job done effectively.

He also extended every kind of help to Messer’s Grand Thornton.