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PM Khan directed for establishment of a real estate regulatory body

ISLAMABAD: Issuing directives for establishment of a real estate regulatory body, Prime Minister Imran Khan  asked the provinces to prepare a road map for a one-window facility and online approval of cases relating to construction and housing sectors.

Presiding over a meeting of the National Coordination Committee on Housing, Construction and Development, the prime minister directed the provincial chief secretaries to submit within week a road map for launching a one-window facility and online approval of permits, fee payments and parallel working of all departments related to the housing sector.

“Make approvals like no objection certificate and others within a stipulated time, and the officials showing negligence or creating unnecessary hurdles must be dealt with strictly,” he ordered.

A source told that the country’s real estate tycoons and the Association of Builders and Developers had expressed reservations over formation of the Real Estate Regulatory Authority and the government was trying to address their concerns.

The meeting was attended by Information Minister Shibli Faraz, special assistants to the prime minister Malik Amin Aslam, retired Lt Gen Asim Saleem Bajwa and Dr Shahbaz Gill, Naya Pakistan Housing and Development Authority chairman retired Lt Gen Anwar Ali Haider, the State Bank of Pakistan governor, secretary housing and chief secretaries of Punjab, Khyber Pakhtunkhwa and Gilgit-Baltistan. The chief secretaries of Balochistan and Sindh, additional chief secretary of Azad Jammu and Kashmir and presidents of the National Bank of Pakistan and Khyber Bank participated in the meeting through video link.

The prime minister said the government had given an unprecedented incentives package for the construction industry to accelerate the economic activity, promote allied industries and provide housing facility to the common man, particularly the low-income groups. The government, he said, was resolved to ease the processes in this regard to ensure that maximum number of people benefited from the facility.

Prime Minister Khan emphasised the need for utilisation of information technology at all levels in the construction sector to make it swifter and easier.

For promotion of the mortgage facility for construction of low-cost houses for the low-income groups, he directed the finance ministry and the State Bank to finalise the process of providing subsidy to banks to remove hassles.

The Lahore Development Authority chairman briefed the meeting on the LDA City project under the Naya Pakistan Housing Programme.

The Sindh chief secretary told the meeting that as per the prime minister’s directive, the ratio of taxes had been reduced in the province bringing it on a par with those in Punjab and KP.

The chief secretaries of Punjab and KP briefed the meeting on the measures taken by their respective provinces to facilitate the construction industry like the launch of portal and establishment of e-Sahulat centres.

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