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Saturday, November 23, 2024  
20 Jumada Al-Awwal 1446  

US company to invest $10bn in housing

US company to invest $10bn in housingMinister for Housing and Works Rahmatullah Kakar Wednesday said the government is actively engaging private companies in housing sector and a US-based firm is interested to invest $ 10 billion in Pakistan.
Replying to a question, the minister told the Lower House of the Parliament that the government was in the process of making deals with the firms from Malaysia, Spain, United States and a local company.
He said the deal with a Spanish company is in progress which would shortly sign an MoU with the ministry.
Regarding the prime minister's plan to build one million housing units in the country, the housing minister informed the House that survey in this regard has been completed and evaluation was in progress, adding that the House would be informed about the progress shortly.
To a question, Kakar said the ministry has issued notices to the people occupying government residences after retirement, or not entitled to have it and the ministry is evacuating such housing units on daily basis.
The minister said the Public Works Department takes immediate steps to keep 410 educational institutions in the federal capital in good conditions. However, he added that a PC-1 mounting Rs 105.6 million has been submitted to the Federal Directorate of Education to repair the dilapidated buildings constructed during sixties and seventies.
To another question, the minister said he is not in position to furnish details of the allotments made out of turn in the federal capital, on the ground that the whole record of the Estate Office was destroyed in the blaze.

Copyright APP (Associated Press of Pakistan), 2008