The first meeting of special cabinet committee on promotion of low-cost housing schemes in collaboration with Republic of Turkey Albayrak Group of Companies was held on Thursday at Civil Secretariat Lahore.
In the meeting, the public-private partnership, financial feasibility, transaction structure model and determination of executing agency for low-cost housing schemes were discussed.
The meeting was participated by Albayrak Group of Companies’ chairman along with a delegation of Turkish investors, Punjab Chief Minister Muhammad Shahbaz Sharif, Housing, Urban Development, Planning and Development Provincial Minister Malik Nadim Kamran, Punjab Additional Chief Secretary Shumail Ahmad Khawaja, Housing Secretary Khurram Agha, LDA Director General Zahid Akhtar Zaman, Punjab Land Development Company Director Project Moazzam Iqbal Supra and Urban Unit Chief Executive Officer Dr Nasir Javed.
The decision of forming a sub-committee headed by Punjab Housing Secretary Khurram Agha was made in the meeting. The sub-committee will assess the market rate for the purchase of state land in the urban areas of Lahore for commercial use.
The income generated from the commercial plazas will be invested in the construction of low-cost housing schemes in various parts of the province.