Islamabad: During the weekly meeting of the National Coordination Committee (NCC) on Housing, Construction and Development on Thursday, the Ministry of Housing informed Prime Minister (PM) Imran Khan that as many as 10 projects of the Federal Government Housing Authority (FGHA) had been revived recently, according to a news source published on October 8.
The PM was briefed that an accumulated 38,637 housing units would be developed at an estimated cost of PKR 120.21 billion under the aforementioned ten projects that had been stalled for the last few years.
In a similar manner, work on three residential projects falling under the auspices of the Pakistan Housing Authority (PHA) Foundation has also been launched — with these projects having been delayed for the last few years. Reportedly, 5,372 housing units will be developed at an estimated cost of PKR 27.86 billion under this initiative.
Furthermore, the PM was told that 26,625 housing units would be constructed at a cost of PKR 213.4 billion under the federal government’s ongoing projects. Additionally, under the new residential projects launched during 2020 and 2021, more than 25,017 and 39,955 housing units would be developed with an estimated cost of PKR 112.03 and PKR 184 billion respectively.
Moreover, the meeting was told that after the government had provided funds worth PKR 3 billion to the Akhuwat Foundation, work on the construction of 5,882 housing units had been initiated, while the construction work for another 4,000 units would be launched with the provision of an additional PKR 2 billion.
As per the information available, the government is expected to provide funds worth PKR 5 billion as a soft loan for the construction of housing for low-income groups through the Akhuwat Foundation.
During the meeting, the Punjab Chief Secretary also took the opportunity to apprise the session regarding the “Real-Time Construction Monitoring Dashboard” digital platform that has been created in order to monitor the ongoing construction activity in the province.
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.
