Islamabad: The Economic Coordination Committee (ECC) on Wednesday provided its approval to the revised eligibility criteria, subsidy structure and public-private partnership for Naya Pakistan Housing Programme (NPHP), according to news sources.
The said decision was taken in an ECC meeting presided over by Finance Minister Dr Abdul Hafeez Shaikh. The revised eligibility criteria for NPHP was presented by Chairman Naya Pakistan Housing and Development Authority (NAPHDA) for the selection of applicants, payment modalities of cost subsidy and mechanism for release of funds – with reference to the housing and construction sector relief package announced last year.
The meeting approved the stipulated terms against the 100,000 housing units to be constructed in NPHP Phase I by the year-end. The committee urged the NAPHDA to facilitate the provision of housing finance at affordable rates for expanding housing ownership as per the vision of the government.
Moreover, the summary of NAPHDA seeking permission ‘to enter into negotiated procurement for the low-cost housing construction through public-private partnership’ was also approved. In addition, the summary for revising key parameters of the mark-up subsidy scheme for housing finance was also approved – as per the recommendation of the State Bank of Pakistan (SBP).
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
