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Punjab Government will overhaul the PGSHF business model

Punjab Government will overhaul the PGSHF business model

News sources said on August 30 that the Punjab government has decided to change the way the Punjab Government Servants Housing Foundation (PGSHF) does business. With the new model, retired government workers would be able to buy plots by paying for them over time or by getting loans from banks.

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According to reports, the Punjab Minister for Housing and Urban Development, Mian Aslam Iqbal, led a meeting of the housing department where ideas for changing the business model and giving home loans to retired employees were discussed. In the next budget, the government will plan for people who are retiring, the minister said. During the meeting, the following decisions were also made:

The Foundation will get 3,076 kanals of land in Chak No. 33 GB of Jaranwala to build a housing community for retired government workers.
The Punjab Housing and Town Planning Agency started private housing programmes and gave plots to retired government workers (PHATA)
Laws to stop the sale and purchase of plots given to government workers when they retire
Creating a business plan for giving bank loans to build houses

The minister also said that the proposals will be made by the right departments, and the Punjab cabinet will give its final approval.

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