Islamabad: The government’s flagship housing project, the Naya Pakistan Housing Programme (NPHP), has received 317 offers from private corporations to develop more than 3 million housing units, news sources reported on January 02. The initiatives would expand the country’s low-cost housing plans under the government’s low-cost housing development programme.
According to the report, the said information was revealed during a meeting of the Naya Pakistan Housing and Development Authority Policy Board. The meeting was also told that there are approximately 45,000 low-cost housing units currently under development across the country. During the meeting, it was also reported that the banks had received 70,858 loan applications totalling PKR 269.8 billion under the government’s subsidised housing finance plan. Banks, at present, have released PKR 33.4 billion against 9,964 applications.
In addition, the board members discuss other agendas such as the simplification of the scorecard for the selection of land/project sites for negotiated procurement of public-private partnership schemes by NAPHDA (Assessment of land procedure), and the Naya Pakistan Housing and Development Authority Internship Program. The NPHP is the incumbent government’s major initiative, with the ambitious goal of providing 5 million housing units for the country’s low-income households. The project entails the provision of housing loans through banks under a government initiative to build or buy homes.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
