Lahore: The Punjab government has decided to redesign the business model of the Punjab Government Servants Housing Foundation (PGSHF), news sources reported on August 30. The new model would allow retired government servants to acquire plots on easy instalments and through bank loans.
Reportedly, the proposals for the business model change and the provision of home loans to retired employees were discussed at a meeting of the housing department, which was chaired by Punjab Minister for Housing and Urban Development Mian Aslam Iqbal. The minister stated that the government will make provisions for retiring staff in the upcoming budget. Furthermore, the following decisions were made during the meeting:
The transfer of 3,076 kanals of land to the Foundation in Chak No. 33 GB of Jaranwala for the establishment of a housing colony for retired government employees
Provision of plots for retired government employees in private and housing schemes launched under Punjab Housing and Town Planning Agency (PHATA)
Legislation for the prevention of the sale and purchase of plots given to government employees on retirement
Development of a business model for the provision of bank loans for the construction of houses
In addition to this, the minister also said that the concerned departments will prepare the proposals and the Punjab cabinet will provide the final assent.
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.
