ISLAMABAD: Prime Minister Imran Khan will perform the groundbreaking of two major housing projects under the government’s Naya Pakistan Housing Program (NPHP) in Islamabad and Quetta during this month.
In the first phase, 110,000 housing units would be constructed in two cities of Balochistan including Quetta and Gwadar, while 19,000 apartments would be built in four different projects located at various places of the federal capital in the first phase.
The decision was taken during a meeting on Thursday to review progress on the housing projects, said a press release issued by the PM Media Office.
In the meeting, Housing Secretary Dr Imran Zeb informed the prime minister that the draft legislations for establishment of Naya Pakistan Housing Authority, foreclosure laws and housing-specific loans recovery procedures have been forwarded to the cabinet committee for legislative cases for consideration. He added that all procedural formalities for the establishment of Naya Pakistan Housing Company would be completed during this week.
Giving details of various housing projects being undertaken in the first phase of the NPHP, the housing department secretary informed the premier that the housing ministry would be signing an MoU (Memorandum of Understanding) with the government of Balochistan for various housing projects in Quetta (5000 apartments in Wahdat Colony), Gwadar (55,000 apartments), Fisher Colony (54,000 apartments) and other places of the province.
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In Azad Jammu and Kashmir (AJK), 3,000 units would be constructed whereas 19,000 units would be built in Islamabad in the first phase.
The prime minister was informed that another important project involving construction of 30,000 apartments on Capital Development Authority (CDA) land near Chaklala was also being undertaken. Another project on the prime land of in the federal capital with a potential of 6,000 apartments was also being vigorously pursued.
The PM expressed his satisfaction over the progress made in the project and the interest shown by the international investors. “Besides bridging demand and supply gap in the housing sector, the NPHP will also act as a stimulus for the overall growth of economy,” he remarked.
Recounting various steps being taken by the government to facilitate foreign investors in construction business, including grant of permission for erecting high-rise buildings, the premier observed that focus on technology transfer, employing the services of local industries and utilising local work force would not only create huge job opportunities but would also boost all sectors associated with the construction industry.
Prime Minister Imran Khan has said that economic future of the country was linked with enhancement of exports, which so far have remained far below the actual potential.
He said that in the past the revenue-centric economic policies with overemphasis on collection made the industry uncompetitive. “The present government has made a paradigm shift in prioritizing the competitiveness of industry vis-à-vis revenue collection,” he added.
He said this while chairing a meeting of the board of administrators of the Export Development Fund (EDF) at the Prime Minister Office.
While expressing concern over the mismatch in collection and releases of the EDF during the past years, the PM instructed to ensure its timely release. “During the current year, a comprehensive system while be devised for the future to ensure unhindered releases and optimum utilisation of EDF for its mandated purpose,” he remarked.