LAHORE - House Building Finance Corporation Limited (HBFCL) has announced a contribution of Rs. 250 million to provide relief to victims of the devastating floods in Pakistan. As a part of its Crisis Response Initiative, HBFCL has donated Rs. 100 million to the Prime Minister Flood Relief Fund. HBFCL employees have also voluntarily donated one days salary to that fund. Additionally, HBFCL has allocated Rs. 150 million towards its own Rebuild and Rehabilitation Initiative (RRI) dedicated to reconstructing the disaster ravaged areas. The RRI funds are earmarked for the HBFCL pilot project which will utilize Alternative Components Technology (ACT). ACT is a Pakistan centric low cost housing programme similar to house construction projects already developed in China, Malaysia and the Philippines. Last week, President Asif Ali Zardari called upon the countrys financial sector to step forward and be of assistance to the GoP in this crisis. President Zardari also called for using modern technologies that would withstand earthquakes and floods in the future. As a result, HBFCLs RRI strategy utilizing ACT was very well received by the Honorable President. On the Corporations flood relief efforts, HBFCL MD/CEO Mr. Azhar Jaffri said, HBFCL is the only entity in Pakistan whose penetration, geographical coverage, business expertise, and knowledge of costs associated with rehabilitation/rebuilding of destroyed homes includes all of the flood affected areas which the Government of Pakistan seeks to immediately aid. He further stated, HBFCL has gladly offered its services to both the President and Prime Minister, and is dedicated to both short and long term relief efforts. HBFCL serves as the prime house financing institution in Pakistan and provides affordable housing solutions to low and middle income groups of the population by encouraging new construction in the Small & Medium Housing (SMH) sector. Over the last 60 years, HBFCLs operation has expanded to become a network of 12 zonal offices, 58 district offices, 4 camp offices, and 25 representative offices/service agents. Today, HBFCLs presence extends to 80 cities and towns throughout Pakistan.