Minister for Housing and Works Akram Khan Durrani has said five hundred thousand housing units will be constructed by 2018 for people belonging to low income groups.

He was addressing an international conference on Affordable housing and Mortgage Finance in Islamabad on Thursday.

The Minister said land has been acquired in all the four provinces for 'Apna Ghar' scheme.

Akram Khan Durrani said sixty thousand canal of land has been acquired for government servants' housing and flat schemes. He said thirty thousand applications have been received from the government employees who do not own a residence.

The Minister said his ministry has also forwarded a summary to the prime minister for enhancing the housing hiring allowance of government employees by sixty five percent.

Addressing the conference, Governor State Bank Ashraf Mehmoud Wathra expressed the confidence that the cut in interest rate will help grow the housing sector in the country.

He urged the financial institutions to come forward for the realization of full potential of housing sector.

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