Islamabad: Drafts pertaining to the establishment of two real estate authorities are to be tabled before the cabinet for approval, a news source reported. A briefing to this effect was given to Prime Minister Imran Khan during a meeting held to review progress on Naya Pakistan Housing Programme (NPHP).
The prime minister was told that the said drafts for the establishment of New Pakistan Housing Authority and Real Estate Regulatory Authority would soon be presented for the cabinet’s approval.
On his part, Imran Khan directed the authorities concerned to expedite work on NPHP. He also asked the provincial governments to remove loopholes in property-related cases within the next 90 days.
The participants said that the members of the Housing Task Force would be briefed on the interest rates proposed by the State Bank regarding the construction of five million low-cost residential units.
The meeting was also apprised about progress on the construction of 1.5 million residential units for government employees under the Federal Government Employees Housing Foundation (FGEHF).