Islamabad: Federal Government Employees Housing Foundation (FEGHF) Director General (DG) Waseem Hayat Bajwa recently revealed that the authorities concerned required hefty funds to secure land in Sector G-14/1 for developing housing projects in the locality, a news source reported.
The DG was responding to questions during a meeting of Senate Standing Committee on Housing & Works in the parliament house. Answering a question pertaining to allotment of plots in the sector, Bajwa said that they required massive resources just to secure the land before commencing with the plot-cutting procedure.
Meanwhile, Federal Minister for Housing & Works Tariq Bashir Cheema told the committee that the government was working day and night to overcome the shortage of 11 million houses in the country.
Responding to queries about the Gwadar housing project, Cheema said that the Pakistan Housing Authority (PHA) had secured 200 acres of land for it. He added that the State Bank of Pakistan (SBP) had instructed all commercial banks to reserve 5% of their loan portfolios for providing the public with loans on easy instalments in order to purchase the housing units.
The minister told the committee that the government had launched two new housing schemes in Khyber Pakhtunkhwa (KP). He added that they planned to build two housing schemes in Muzaffarabad and Mirpur. He said these projects would feature 6,000 houses.
