Prime Minister Imran Khan on Monday called for further speeding up the process of New Pakistan Housing Project so that implementation work on the project could be started earlier. He also directed the provincial governments to dispose of the pending legal cases about the properties, with all relevant documentation, within the next 90 days.
The Prime Minister was chairing a meeting on New Pakistan Housing Project during which he was given a detailed briefing by the Housing Task Force on the progress of the project so far. He said the project of constructing five million housing units stood top of the government''s projects, which would not only help address the housing problem in the country but also pace up the wheel of economy and create numerous job opportunities for youth.
The Prime Minister was told that a draft for the establishment of New Pakistan Housing Authority would soon be presented for cabinet approval. A draft for the establishment of Real Estate Regulatory Authority would also be presented within a week, after which the regularly work would be separated from that of development, it was informed.
The Prime Minister was further informed that the interest rates proposed by the State Bank of Pakistan would soon be shared with the members of the Housing Task Force. The meeting was further informed that after consultation with the relevant stakeholders, foreclosure laws would also be finalized within two weeks.
The meeting was briefed about the progress on the construction of 1.5 million housing units for government servants under the Federal Government Employees Housing Foundation (FGEHF). The meeting was informed that after the advertisement for Expressions of Interest (EOIs) on the construction of 1.5 million housing units, 41 companies had so far expressed their interest.
The Prime Minister was informed that out of the 41 companies 25 companies had expressed their interest for constructing housing units at one site, while 14 others have expressed their interest for constructing housing units and providing land at different sites.