Construction of 7,000 Units Completed Low Cost Housing Scheme
Through Akhuwat Islamic Microfinance, the Ministry of Housing and Works has created the Prime Minister Low Cost Housing Scheme, which provides financial assistance of up to Rs 500,000 to qualified households (AIM).
Read: Global Rise in Coal Prices May Increase Cement Rate in Pakistan
On 15 June 2021, the federal cabinet also authorized a ministerial report about the Urban Regeneration of Pakistan Quarters and Jamshaid Quarters in Karachi. This Ministry, in partnership with the New Pakistan Housing Authority, would transform katchi abadis into developed areas by constructing around 6,000 flats and commercial areas in high-rise vertical complexes.
The administration launched new apartment plans with 10,102 units in Kashmir Avenue, G-13, Skyline, Apartments, Islamabad, Chaklala Heights, Rawalpindi, and Lifestyle Residency, Lahore. Together with the governments of Azad Jammu and Kashmir (AJ&K) and Khyber Pakhtunkhwa, it launched 850 housing units.
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On July 22, 2019, the Ministry inked a tripartite collaboration agreement with UNOPS and SHS. Under this program, the government of Balochistan transferred and repurposed 200 acres of land in Gwadar for the construction of an affordable housing program with a focus on the fishing community.
According to the documents, the Federal Cabinet also approved the signing of a memorandum of understanding on June 19, 2019 between this Ministry and China State Construction Engineering Corporation Ltd (CSCEC) regarding the construction of five million housing units for low-income groups in Pakistan.
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