ISLAMABAD - Prime Minister Imran Khan will perform ground-breaking of two major housing projects in Islamabad and Quetta during this month.

The decision was taken during a meeting to review progress on housing projects being constructed under the Naya Pakistan Housing Project here on Thursday. Prime Minister chaired the meeting.

The prime minister was informed that under the programme, 110,000 units would be constructed in Quetta and Gwadar while 19,000 apartments would be built under four different projects in federal capital in first phase.

Addressing on the occasion, the prime minister expressed satisfaction over the steady progress being made in the Naya Pakistan Housing Programme and the huge interest being evinced by the international investors.

The premier observed that focus on technology transfer, employing the services of local industries and utilising local workforce would create huge job opportunities and also boost all sectors associated with the construction industry.

He said Naya Pakistan Housing Programme, besides bridging demand and supply gap in the housing sector, would also act as a stimulus for the overall growth of economy.

Says economic future linked to boost in exports

Secretary Housing Dr. Imran Zeb Khan while giving an update informed the prime minister that draft legislations for establishment of Naya Pakistan Housing Authority, foreclosure laws and housing specific loans recovery procedures have been forwarded to the Cabinet Committee for legislative cases for its consideration.

It was informed that all codal formalities for establishment of Naya Pakistan Housing Company would be completed during this week.

Secretary housing said the housing ministry would be signing an MoU (memorandum of understanding) with the government of Balochistan for various housing projects at Quetta (5000 apartments in Wahdat Colony), Gwadar (55,000 apartments) Fisher Colony (54,000 apartments) and other places of the province.

In Azad Jammu and Kashmir (AJK), 3,000 units would be constructed whereas 19,000 units would be built in Islamabad in the first phase.

The prime minister was informed that another important project involving construction of 30,000 apartments on CDA land near Chaklala was also being undertaken.

Another project on the prime land of G13/14 sector with a potential of 6,000 apartments was also being vigorously pursued.

Meanwhile, chairing 80th meeting of Board of Administrators of Export Development Fund (EDF) here yesterday, PM Khan said economic future of Pakistan was linked to enhancement of exports which has so far been far below than the actual potential.

He said in past revenue-centric economic policies with overemphasis on collection of revenues made the industry uncompetitive.

However, the PTI government has made a paradigm shift in prioritising the competitiveness of industry vis-à-vis revenue collection.

The prime minister, expressing serious concern over mismatch in collection and releases of EDF during past years, directed that timely release of EDF, which was indeed the exporters’ money, be ensured during current year while a comprehensive system should be devised for future to ensure unhindered releases and optimum utilisation of EDF for its mandated purpose. The board of administrators of EDF, reconstituted the finance committee of the EDF Board which will be chaired by the adviser to the prime minister on commerce.

The meeting approved budget and the schedule of activities to be held during four-day TEXPO Exhibition 2019 at Lahore Expo Centre on 11th of this month. It was also decided during the meeting that the EDF Board would also include secretary textile division, as its member, to ensure representation of the textile sector, being the major contributor towards exports of the country.

Talking to the leading businessmen, the prime minister stated that the government would continue taking the business community on-board in policy formulation process and their feedback would help the government further improve policy framework and to extend maximum facilitation to the exporters and the businessmen of the country.