Draft Of Naya Pakistan Authority Bill Forwarded To Law Division

Draft of Naya Pakistan Authority Bill forwarded to Law Division

The draft of legislative proposal for "Naya Pakistan Authority" has been finalized and forwarded to Law Division for further vetting and consideration

ISLAMABAD, (UrduPoint / Pakistan Point News - 15th Jan, 2019 ) :The draft of legislative proposal for "Naya Pakistan Authority" has been finalized and forwarded to Law Division for further vetting and consideration.

In a written reply to a question raised by MNA Dr Mahreen Razzaq Bhutto, Minister for Housing and Works Chaudhary Tariq Bashir Cheema informed the National Assembly during the question hour that draft of "Naya Pakistan Authority Bill" has been forwarded to Law Division.

He said that a task force for the construction of five million houses has been constituted while recovery of draft Mortgage-backed Security Act 2019 vetted by Housing Task Force has been forwarded to Law Division. He said NADRA has collected registration forms at designated sites with effect from October 22, 2018.

The minister said that that Expression of Interest (EOI) has been published regarding this initiative by the Federal Government Employees Housing Foundation (FGEHF) for employees from BS-1 to 16 to be executed by the private sector under Joint Venture (JV) policy.

Meanwhile, the sources said that draft bill would be presented for cabinet consideration soon. State Bank of Pakistan, the sources said, has also proposed interest rates for this housing project which would be reviewed by the members of the Housing Task Force.

It is worth mentioning here that 25 companies had so far expressed their interest after the advertisement for Expressions of Interest (EOIs) on the construction housing units at one site. Sixteen companies are also have expressed their interest for constructing housing units and providing land at different sites.