Work on housing project in three cities to start next month

Work on housing project in three cities to start next month

ISLAMABAD: The work on the housing project in the cities of Renala Khurd, Chishitan and Lodhran will formally start next month to fulfill the housing needs of the people under the Naya Pakistan Housing Project.

“The work on the housing project in the three cities will begin in February and then it will be extended to other towns and cities,” a senior official of the Ministry of Housing and Works told APP on Monday.

The official said a complete layout plan had been prepared for the construction of 25,000 houses in Islamabad and Lahore, which would be inaugurated by Prime Minister Imran Khan soon.

The 23-member task force was working hard to finalize an action plan for the implementation of the programme for construction of five million housing units.

The official said there were some 31.96 million houses in Pakistan and about 12 million more were needed. Some 2.5 million housing units were being constructed against annual demand of 7 million, he added.

He expressed the hope that the Naya Pakistan Housing Project would contribute to fulfill the rising demand of the houses and the poor would get the shelters.

“The legal requirements for the establishment of Naya Pakistan Housing Authority have almost been completed. The draft legislation has been finalized with the approval of Task Force and the Ministry of Law”, the official said.

To a question, he said the housing project was purely meant for the poor who would be facilitated to purchase houses through a viable financing model. Funds were not a major challenge for the project as there would be market based funding, he added.

He said there was an option for government employees to pay installments through their provident fund.

To attract foreign investment, he said, a special cell would be set up at the Board of Investment to ensure assistance for those willing to invest in this project.

He said foreclosure laws were also being finalized with the assistance of Ministry of Law.