Islamabad: The House Building Finance Corporation (HBFC) will loan PKR 4.5 million at a 12% interest rate to government employees for Naya Pakistan Housing Project (NPHP), a new source reported. The Housing & Works Minister Tariq Bashir Cheema also stated that 85% of the units in the Prime Minister’s (PM) housing scheme will be reserved for the government employees.
Cheema stated that the housing units will be allotted to employees of Grades One to 16. The low-salaried employees will receive the loan for a period of 25 years, he revealed while attending a meeting of the Standing Committee on Housing & Works at the Parliament House.
During the meeting, the committee stressed over preparing a financial model that would be workable for the government employees in the housing projects inaugurated by the PM in Islamabad, Rawalpindi, and Quetta.
HFFC will build these housing units for the federal government employees under NPHP at various locations. These include Sectors G-13 and G-14 in the capital city, and Askari-VI and Mouza Chaklala in Rawalpindi.
Cheema told the meeting that the Chaklala housing project will have 12,500 units for facilitating employees of Basic Pay Scale (BPS) one to 16. He added that Sector G-13 will have 6,000 housing units. Capital Development Authority (CDA) Chairman Amer Ali Ahmed stated that they will also resolve the issue of mix-use soon in G-13, as they have only approved residential units for now.