Islamabad: The Ministry of Housing and Works and China State Building Engineering Corporation (CSCEC) inked a Memorandum of Understanding (MoU) on Friday for the construction of low-cost housing units and the up-gradation of slums for low-income residents.
Housing and Works Secretary Dr. Imran Zeb Khan and CSCEC’s top representative signed the MoU. The aim of the project is to build affordable housing units along with construction of infrastructure including roads, water supply, provision of electricity, natural gas, sewerage system and allied facilities.
It is possible to integrate this project with the China Pakistan Economic Corridor (CPEC) in the future. The CSCEC will play a key role in financing, feasibility studies, investment estimation, planning, design, and construction of housing schemes.
According to the MoU, which also states that the ministry and the government will play a key role in land supply, land change, land acquisition, permission for planning and construction, transfer of property rights, and mortgage loan poaching.
After signing of the MoU, Mr Khan highlighted that the best expected outcome of this new initiative is that a sub-committee will be constituted to jointly submit proposals to the government within 30 days to start construction.