A memorandum of understanding (MoU) on 'Education City' was signed here on Thursday to cater to the residential needs of teachers' community. Punjab Minister for Education Mian Imran Masood and Minister for Housing Syed Raza Ali Gillani were present at the MoU signing ceremony.
Membership of this project has been started and 200 acres of land would be utilised to construct 3500 houses in the first phase.
The MoU signing ceremony was held here at Al-Hamra Hall No 1 and office-bearers of the United Teachers Welfare Foundation, Punjab and representatives of Tricon, Newage and Habib Rafiq Group signed the MoU. The Bank of Punjab, United Bank and Habib Bank are the partners.
Addressing on the occasion, Imran Masood said that teachers were invaluable asset of any nation and housing facilities for this prestigious segment of the society was the prime need, which has been met through signing of this MoU.
He assured that the government would increase salaries of employees in the coming budget.
Speaking on the occasion, Housing Minister Syed Raza Ali Gillani said that the government would extend all out co-operation to those housing projects, which would observe rules and regulations. He lauded the decision of establishing 'Education City' and assured all out co-operation to the teachers.
He hoped that the 'Education City' would be a good addition to the housing sector. He also appreciated the contribution of private sector in uplift of housing sector.
On this occasion, office-bearers of Teacher Organisations, Taj Haider, Abdul Razzaq Salam and Ishaq Kamiana appreciated the launching of 'Education City'.
Representatives of Tricon, Newage and Habib Rafiq groups said that 3500 houses would be constructed on 2133 kanals and 18 parks would be available in addition to all the basic facilities in the Education City.
They said that membership forms would be available from Friday at all branches of the Bank of Punjab.
Two teachers Muhammad Touheed and Rashida Khan filled the forms for Education City and became the first two buyers.