Lahore: The Punjab government and the State Bank of Pakistan (SBP) have agreed on financial arrangements with respect to the Naya Pakistan Housing Programme (NPHP) project – a news source reported.
A meeting to this effect took place in Lahore on Thursday. Provincial Minister for Housing and Urban Development Mehmood-ur-Rasheed presided over the meeting. Secretary Housing Hasan Iqbal and representatives of the Punjab Housing and Town Planning Agency (PHATA) were all present at the occasion.
It was informed that the provincial government and the central bank have agreed on the financing mechanism for NPHP. Allottees will now have to pay a monthly instalment between PKR 8,000 and PKR 10,000.
It is pertinent to mention that the Task Force on Housing has selected three sites for developing low-cost houses in Lahore. These locations are Barki Road, Multan Road, and Defence Road.