It is the agenda of Prime Minister Imran Khan to ensure shelter to the poor of the country at affordable prices, and a committee involving stakeholders have been constituted in this regard, an official source at the ministry told this Internews yesterday.
He said that the committee constituted by the prime minister had worked a lot on this project, with a special focus on the finance model, and the legal framework.
A task force, he said, had been formed, and national and international investors had shown great interest in this project.
This task force includes representatives from the State Bank of Pakistan, commercial banks, the ministry of housing and works, the Pakistan Housing Foundation, and other relevant organisations.
The ministry official said that the necessary paper work had been completed, and that seven cities selected for registration for a pilot project.
The committee would collect information in these cities about the living standard of residents and their interest towards such housing project, the source said.
He said several industries would be involved, ensuring maximum employment opportunities.
The source said that the UAE and China have also shown interest in this project.
Each house to be constructed under the project would have an area of three to five marlas (one marla is about 25sq m), while a separate house model for slum areas with two rooms, a kitchen, and a small corridor is being prepared.
The source said that people would be also given interest-free loans for the construction of houses.
The duration for payment of loan would be between 15 and 20 years, and the monthly instalment would be between Rs5,000 and Rs6,000.
The complete framework would be finalised by December 10, and the government would not have to spend a single penny on this project, the source added.
At present, he said that there are presently 31.96mn houses in Pakistan, with about 12mn more needed to meet demand.
The ministry source said that there is demand of around 7mn houses per annum, with 2.5mn houses being constructed presently.
