Housing scheme attracts $8m investment

Government’s plan to construct one million houses under PM's Housing Scheme is attracting foreign investors.

ISLAMABAD: The government’s plan to construct one million houses under the Prime Minister’s Housing Scheme is attracting foreign investors and some companies have committed to invest $8 million in the project, said Federal Minister for Housing and Works, Rehmatullah Kakar.

He stated this while chairing a meeting held to review updates and progress on housing projects being undertaken by the Pakistan Housing Authority (PHA) and Federal Government Employees Housing Foundation (FGEHF), a press release said here on Thursday.

The minister said that chief executives of two German and Canadian companies have expressed their keen interest in the ‘Prime Minister’s Housing for All’ programme and agreed to make $8 million investment in housing projects.

He said Pakistani community in Saudi Arabia has also expressed interest in housing schemes in Islamabad and other parts of the country.

Kakar urged the PHA and FGEHF to intensify their efforts for launching more housing projects in order to complete the scheme on a fast track basis.

He said that construction of one million housing units would not only provide housing facility for the shelter-less, needy, government employees and general public but would also generate socio-economic activities in the country.

Published in The Express Tribune, August 20^th, 2010.