ISLAMABAD: While addressing at the signing ceremony of a memorandum of understanding (MoU) between the government of Pakistan, the United Nations Office for Project Services (UNOPS) and Sustainable Housing Solutions on the Naya Pakistan Housing Programme, Prime Minister Imran Khan briefed that the mega project of construction of five million affordable houses will cater to low-income groups.
Being kick-started from Gwadar to benefit the poor fishermen, the project will later commence in Peshawar and other parts of the country to provide affordable housing units.
The PM acknowledged the financial and technical assistance from UNOPS and SHS as a fundamental development to positively impact economic activity. By utilising the expertise of local labour and material, and benefiting 40 industries allied with the construction sector, the project will not only create employment but also overcome the shortage of housing units in the country.
To accommodate entrepreneurs and investors, the PM informed a one-window operation had been launched by the Naya Pakistan Housing Authority to address administrative and legislative issues.
Prime Minister Khan appealed to the Lahore High Court Chief Justice to immediately fix the case regarding foreclosure laws pending since long since an early decision would enable the banking sector to extend loaning facilities and ease the mortgage process.
The MoU signed between the representatives of the government, UNOPS and SHS will be the latest in the UNOPS Social Impact Investment Initiative (S3I), which has been operating in different countries.
Minister for Housing Chaudhry Tariq Bashir Cheema further addressed the meeting and said the signing of MoU ensured to overcome the shortage of residential units in the country.
Vitaly Vanshelboim, the UNOPS Assistant Secretary-General, Deputy Executive Director and Chief Operating Officer of the UNOPS, said the construction of five million houses in Pakistan was the most ambitious and lucrative initiative, as it possesses huge market opportunities.
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