Construction work to start in April
ISLAMABAD: The construction work under Naya Pakistan Housing Project will be started in April, the Public Accounts Committee (PAC) was informed on Thursday.
Rana Tanveer Hussain chaired the meeting, here on Thursday.
The committee examined audit paras of the Pakistan Public Works Department (PPWD) for the year 2019-20.
The secretary housing informed the committee that the federal government had budgeted Rs650 billion in the current financial year for the housing projects in the public sector.
Private investors had also shown investment of Rs830 billion.
Construction of low-cost housing units would be started in the current year, the secretary added.
The committee was apprised that the federal government initiated housing projects, so that the poor segment of the society could be provided low-cost housing units.
However, not a single project was completed since the announcement of the projects by the prime minister.
The committee was further informed that a housing project “Akhuwat” was initiated.
Under the arrangement, eligible can get house loan up to Rs500,000.
The organisation had disbursed Rs3 billion for construction of 800,000 housing units.
It was further said that loaning and mortgage financing were also arranged from the commercial banks, which received an overwhelming response.
The officials of the Housing Ministry said that Prime Minister Imran Khan was informed about the progress in the housing sector in weekly briefing.
The approval process for housing project was completed within three months.
Audit report reveals that in five mega cases Rs3.29 billion irregular payments were made violating the laid down rules and procedures.