Minister For Housing Chaudhry Tariq Bashir Cheema Indicates The Present Government's Seriousness To Overcome The Shortage Of Residential Units In The Country

Addressing the ceremony, Minister for Housing Chaudhry Tariq Bashir Cheema said the signing of MoU indicated the present government's seriousness to overcome the shortage of residential units in the country, which was acknowledged by the UNOPS and the SHS

ISLAMABAD, (UrduPoint / Pakistan Point News - 31st Jul, 2019 ):Addressing the ceremony, Minister for Housing Chaudhry Tariq Bashir Cheema said the signing of MoU indicated the present government's seriousness to overcome the shortage of residential units in the country, which was acknowledged by the UNOPS and the SHS.

He said the shortage of houses had been a chronic issue for the lower strata of the society in the country as they did not possess adequate financial resources to own homes.

The minister said the signing of MoU was a welcome step, which would pave the way for construction of half a million houses in the first phase.

He said the initiative would directly benefit the industries related to the construction sector, thus creating huge job opportunities for the local people.

Secretary Housing Dr Imran Zeb Khan said the MoU would prove to be a step towards the accomplishment of construction of five million houses in the country.

As part of the agreement, the government would provide land and basic infrastructure, including sewage, electricity and water connections, he added.

The UNOPS and SHS would establish a framework to manage financial aspects, and ensure project activities were timely, efficient and maintain relevant quality standards, he said.

He said currently the country was facing a shortage of 10 to 12 million houses. With the consultation of all stakeholders, efforts were being made to ensure availability of bank loans at the lowest interest rates for the construction of units.

Zeb said the assistance from the UNOPS would not be treated as loan but a part of the financial services.

Assistant Secretary-General and UNOPS Deputy Executive Director, Chief Operating Officer Vitaly Vanshelboim, on the occasion, said the construction of five million houses in Pakistan was the most ambitious and lucrative initiative, possessing huge market opportunities.

He said the UNOPS would ensure quality construction involving local labour.

He said the initiative would also coincide with the United Nations Sustainable Development Goals (SDGs).

Vitaly while making commitment to build half a million houses, however, made it clear that it would be a patience bearing process.