Govt to announce housing policy on Oct 10


ISLAMABAD: Prime Minister Imran Khan today chaired a meeting over the ‘Five million housing project’ at the Prime Minister’s Office in Islamabad.

The meeting was attended by finance minister Asad Umar, housing minister Chaudhry Tariq Bashir Cheema, planning minister Khusro Bakhtiar, railways minister Sheikh Rasheed Ahmed, advisor to PM Abdul Razak Dawood, housing minister for Punjab Mehmood-ur-Rasheed, senior government officials of the federal and provincial governments and related stakeholders.

The meeting deliberated upon the modalities of the launch of the initiative, the legislative framework for the implementation of the project, and the establishment of an apex body to serve as a one-window facility for ensuring an enabling environment.

The government is expected to announce the policy on October 10. The meeting decided that the construction of five million houses will be completed in two phases with 2.5 million houses planned for construction in each phase.

PM Imran directed the completion of the project in the given period.

The houses are expected to be comprised of three, five and seven marla houses and will be provided to citizens on 15 to 20-year instalments.

The meeting also discussed various financial models that could be followed to ensure maximum participation of the private sector on one hand, and to ensure affordability of the housing facility for the low-income groups, on the other.

The Prime Minister expressed his satisfaction over the progress made so far by the Housing Task Force (HTF).

The PM reiterated that the provision of five million houses, especially to the low-income groups and the regularization of ‘kachi-abadis’ is a priority of the present government.

He said that the five million housing project; besides addressing housing issues would be a force multiplier in generating economic activities through the creation of jobs and providing a boost to allied sectors of construction and housing. The PM directed the committee to finalize the modalities for its launch.