NPHP: Funds worth PKR 5 bn approved

Lahore: Punjab Chief Minister Usman Buzdar has approved a summary regarding the allocation of funds for Naya Pakistan Housing Programme (NPHP) – a news source reported.

Over 5,000 low-cost residential units will be constructed at a cost of PKR 5 billion. The three and five marla houses will be built in Renala Khurd, Lodhran, and Chishtian.

Read: SBP wants Islamic banks to help govt with NPHP

The officials have forwarded the summary to the Cabinet Committee on Finance.

Meanwhile, NPHP’s PC-1 project is in its final stage of completion. Housing Minister Mian Mehmood-ur-Rasheed had shared this information last week.

The allotment of affordable houses will be carried out through balloting. Furthermore, project marketing will be carried out via print and electronic media outlets.

Read: Committee formed to amend LDA Act for NPHP

The cabinet will also deliberate on a draft regarding the establishment of New Pakistan Housing Authority (NPHA) this month.

Under NPHP, the government plans to construct five million low-cost residential units in the next five years.