Federal Minister for Housing and Works Mian Riaz Hussain Pirzada chaired meeting of the 58th Board of Directors (BoD) of Pakistan Housing Authority (PHA) Foundation today at Ministry of Housing and Works, Islamabad. After detailed discussions, the board granted approval on various agenda items including confirmation of minutes of 57th BoD Meeting, placement of surplus funds of worth Rs. 339,000,000 with Government Securities of Pakistan and Treasury Bills at current yield rates of the State Bank of Pakistan and auction of cancelled Apartments and shops in the projects based at Lahore and Islamabad. The Board agreed on deferment of installment schedule for one year in Kuchlak Road, Quetta to facilitate allottees keeping in view the unavoidable factors involved in the suspensions of work at site. On an agenda item relating to auction of commercial plots at Kuchlak road, project, auction process was kept on hold for some time to put up a revised layout plan for the commercial area to get maximum profit and optimal use of the specified land. Furthermore, the successful auction bids received and accepted by the committee with a difference of 8.3 Million on higher side of six shops in I-16/3 project and one cancelled apartment of G-11/3 project, Islamabad was unanimously endorsed along with the approval of allotment of temporary spaces for shops or cabins in I-16/3 project on pre-stated terms and conditions to facilitate the dwellers of this scheme. In addition to this, board consented to the policy of allotment of housing apartments to the officers of PHA with fixation of permanent seniority under 1% quota besides granting permission for a mandatory management course for the mid-career officers of technical cadre in PHA. *-*-*-*-*
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