To augment growth and development, the well-being of the housing sector is indispensable. Due to the burgeoning population in the country, there is immense demand on the housing sector to provide appropriate housing facilities for all and sundry. The present government has adopted a visionary approach for developing the housing sector to address the issue holistically.
At the very outset, the government has declared the construction sector as an industry. The present government is of the firm view that the construction sector caters to housing needs and plays a vital role in boosting the country’s economy, as directly or indirectly, almost 42 other industries are ancillary to the construction sector.
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Accordingly, all impediments in the way of the construction industry have been removed, and the implementation of housing schemes has started yielding the desired dividends for the homeless citizenry. The government has successfully endeavored to execute the projects for the focused objective of housing units without putting a financial burden on the government.
Previously the development of the housing sector was in the manifesto of various political parties, but unfortunately, the sector was not accorded the due priority. The present government taking cognizance of this situation has placed the development of the housing sector as one of its prominent agendas.
To begin with, the government, in April 2019, launched Naya Pakistan Housing Program with a view to creating an enabling environment for the rising needs of housing units. It is a two-tier program focused on restructuring the existing housing-specific organizations through the establishment of a separate Authority with the title “Naya Pakistan Housing Authority.”
Simultaneously the policy has also provided financial assistance through Mortgage Housing Scheme by the Banks and Financial Institutions of the country to finance low-cost and affordable housing on easy terms.
Presently, major projects worth Rupees 463 Billion are in the offing, including restarted stalled schemes of 11,352 plots at Green Enclave-I Bara Kahu, Sky Garden (Green Enclave-II), and F-14/F-15 Islamabad. It has initiated new apartment schemes consisting of 10,102 units at Kashmir Avenue, G-13, Skyline, Apartments, Islamabad, Chaklala Heights, Rawalpindi, and Lifestyle residency, Lahore, Initiated Housing schemes of 850 units with the Government of AJ&K & Government of KP.
Presently FGEHA is developing 9,500 units at F-12 and G-12 Islamabad and has completed the booking of 714 housing/apartment units in Quetta Kuchlak. Booking of 636 apartments is in progress; out of 10,000 housing units, around 1,250 housing units are booked in the Peshawar project. Membership drive for GB housing project at Minawar launched.