PR No. 28 A HIGH PROFILE EGYPTIAN DELEGATION CALLED ON FEDERAL MINISTER FOR HOUSING AND WORKS Islamabad: October 03, 2019

A high profile Egyptian delegation called on Chaudhry Tariq Bashir Cheema, Federal Minister for Housing and Works here today. During the meeting, Chaudhry Tariq Bashir Cheema, Federal Minister for Housing and Works apprised the delegation regarding the Prime Minister Imran Khan’s vision of building 5 million affordable houses for the poor and vulnerable segments of the society under the humongous project of ‘Naya Pakistan Housing Scheme’. He said 5m houses shall be built at any cost and the Housing Ministry is working day and night over the project. He also said that the administrative and legislative issues are being overcome and to facilitate the investors and construction companies, one window operation is being introduced by Naya Pakistan Housing Authority. The Minister said that there is shortage of approximately 12.5m housing units in Country and Naya Pakistan Housing Scheme will provide an opportunity to low income people to own their houses. Mr. Imran Zeb, Secretary Ministry of Housing and Works briefed the delegation over the recently signed MoUs between Government of Pakistan and UNOPS and SHS for financial assistance in Naya Pakistan Housing Scheme, who will build 500’000 new houses in the Country. He said in order to promote mortgage the Government has enacted foreclosure laws in the Country. He also said that to overcome financing difficulties of the Federal Government Employees and in the wake of high interest rates on mortgage financing prevailing in the market the MoU between FGEHA and HBFC has been also singed. The high profile Egyptian delegation appreciated the efforts of the Minister for Naya Pakistan Housing Scheme and showed keen interest in the project. The delegation said that in Asia, Pakistan is the first Country they are visiting and this will enhance the business and bilateral cooperation between the two countries. ********* ?

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