AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Islamabad, February 26, 2014 (PPI-OT): Minister of State for Housing and Works Barrister Usman Ibrahim chaired on Wednesday a meeting of Steering Committee members to expedite the policy framework for Prime Minister’s low income housing scheme.
While discussing the financing matter, the Minister said that loan facility would be extended through House Building Finance Company (HBFC) with 8% mark-up, which would be provided by the government. It was discussed that the housing scheme is completely on Public Private Partnership mode and everything would be finalized according to terms and conditions of the government.
The Minister added that incumbent leadership has a clear vision to provide shelter to homeless people and commitment and sincerity of the government is evident from its announcement of 500,000 housing units for low income groups during the next five years to overcome the housing shortfall. A separate company Apna Ghar Limited (AGL) has been constituted to accomplish this task, he said.
The Minister appreciated that Association of Builders and Developers of Pakistan (ABAD) is ready to participate in this task with the objective to build low-income housing units on ‘kacchi Abaadies’ in rural areas, causing unemployment and security threats for the country.
The Minister stated that 50 million people will be benefited by Prime Minister’s Housing Scheme for low-income people. He assured that besides gearing up the indigenous industry, the housing scheme will also galvanize the private sector.
Apart from Minister of State for Housing and Works, Col. Hassan Haqqani Managing Director National Construction Limited (NCL), Director General National Housing Authority (NHA), Mohsin Sheikhani Chairman ABAD (Karachi), M. Arif Jeewa Chairman ABAD (Islamabad) attended the meeting.
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