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Cabinet may shelve 24 'Mera Ghar' projects

RECORDER REPORT

ISLAMABAD: The Cabinet is likely to shelve 24 housing projects of 'Mera Ghar' housing scheme when it meets on Thursday, reliable sources in the Cabinet Division told Business Recorder.

The Cabinet may ask the ministry of finance to provide Rs 1 billion to continue the work on 18 housing projects out of the 42 approved by the previous government under the said scheme.

The ministry of housing has said in its summary that for the completion of all the 42 projects an amount of Rs 5 billion would be needed. It has stressed that completion of all the projects at this time is not possible but, in keeping the demand of houses in the urban areas, it is felt that 18 projects should be completed.

Autonomous bodies like Pakistan Broadcasting Corporation, Pakistan International Airlines and Pakistan Atomic Energy Commission and some welfare associations have shown interest to purchase housing units for their employees.

The two-bedroom unit with TV lounge, kitchen and bath-room would cost Rs 4,50,000. The allottees would have to make a down payment of 15 percent at the time of allotment and 15 percent at the time of taking possession, while the rest of the amount would be paid in 15 years.

The ministry of housing has stressed in the summary that the re-launching of the project would establish faith in the local as well as foreign investors in the policies of the present government.

The ministry has also said that the start of the projects would be a good omen, as it would start economic activity in the country and thousands of skilled and unskilled labour would get jobs.