By SPA
Islamabad : The housing sector would attract a huge foreign investment of $1.5 billion to address the acute housing problems in Pakistan, said Caretaker Minister for Housing and Works Nisar Muhammad Khan.
“For the first time, such a huge foreign investment will come to the housing sector in Pakistan,” he told the reporters.
The minister said a Memorandum of Understanding (MoU) in this regard would be signed very soon.
Khan said their non-implementation of the national housing policies prepared in 1992 and 2001 complicated the housing situation in Pakistan. He said he would soon meet President Pervez Musharraf and discuss the issue.
About the launching of new housing sectors in Islamabad, the minister said unfortunately this should have been done as a top priority and up to the required level.
He said 500,000 housing units should be built per annum to meet the growing needs and clear the backlog.