ISLAMABAD – Ministry of Housing and Works along with Housing Task Force hasexpedited the work to prepare draft for the establishment of New PakistanHousing Authority (NPHA) which would be presented for cabinet approvalduring the ongoing month.A draft for the establishment of Real Estate Regulatory Authority wouldalso be prepared within a week and to be presented in the ongoing month,the official sources told APP on Monday adding that it would separate theregularly work from that of development.State Bank of Pakistan, the sources said, has also proposed interest ratesproposed for this housing project which would be reviewed by the members ofthe Housing Task Force soon.
The meetings are underway with the relevant stakeholders to finalize theforeclosure laws which would also be finalized within two weeks.It is to mention that 25 companies had so far expressed their interestafter the advertisement for Expressions of Interest (EOIs) on theconstruction housing units at one site. Sixteen companies are also suchwhich have expressed their interest for constructing housing units andproviding land at different sites.
