Islamabad: The government will present three housing-related ordinances in the National Assembly, today. These include Naya Pakistan Housing Authority Ordinance, 2019 (NPHAO), Federal Government Employees Housing Authority (FGEHA), and one ordinance related to foreclosure laws.
Promulgated by President Dr Arif Alvi, the three ordinances are to be debated in the lower house for their final approval, before moving them to the upper house. According to the agenda of the National Assembly, Minister for Housing and Works Tariq Bashir Cheema will present the Naya Pakistan Housing Authority Ordinance 2019 before the house as required by clause (2) of Article 89 of the constitution.
Sources revealed that the government will struggle hard to get the ordinance (NPHAO) cleared from the opposition, as it is to play a key role in turning into reality Prime Minister Imran Khan’s vision of building five million housing units under the flagship program named Naya Pakistan Housing Programme (NPHP).
Under Article 89 of the 1973 Constitution, the life of an ordinance is 240 days in total. First, it is approved for 120 days, and then if required, again passed for 120 days. However, for extension, it requires an approval of any of the two houses.
The purpose of the Federal Government Employees Housing Authority (FGEHF) is to remove hurdles in the acquisition of land and resumption of project development of various stalled projects in different regions of the country.
The other ordinance is related to foreclosure laws. With this ordinance coming into effect, the banks will have powers to confiscate or auction the property if their owners fail to repay housing loans.
Karachi: Pakistan’s foreign exchange reserves posted a slight increase during the week ending August 15,…
Lahore: The Punjab government has given the green light to the long-awaited PKR 50 billion…
The Punjab government has introduced another major initiative aimed at improving public convenience in Lahore.…
Lahore: The Provincial Development Working Party (PDWP) has approved development projects worth PKR 15.76 billion…
LAHORE – The Lahore Chamber of Commerce and Industry (LCCI) on Sunday announced an emergency…
RIYADH – Outstanding loans from Saudi banks climbed to SR3.2 trillion ($849.7 billion) in June,…
Welcome to Graana Blog - Pakistan’s Smartest Property Portal!
For more than a decade our intention has been to revolutionise the real estate industry in Pakistan. The same belief drove the vision of our real estate team, Graana where quality beats quantity.
We have introduced an extremely transparent and purposeful portal where we will help you buy, rent or sell your property. A place where you can sit back relax and let us market your projects and listings. We believe we have set new standards for the future of real estate in Pakistan by providing the smartest property portal.
