The 58th Board of Directors meeting of the Pakistan Housing Authority (PHA) Foundation, chaired by Federal Minister for Housing and Works Mian Riaz Hussain Pirzada, on Wednesday approved key decisions on financial investments, project auctions, installment deferments, and housing policies aimed at facilitating allottees and optimizing resources.

After thorough discussions, the board approved several agenda items, including the confirmation of the 57th BoD meeting minutes, the investment of Rs. 339 million in Government Securities and Treasury Bills at current State Bank yield rates, and the auction of canceled apartments and shops in Lahore and Islamabad projects.

The Board agreed to defer the installment schedule for one year in Kuchlak Road, Quetta, to facilitate allottees, keeping in view the unavoidable factors involved in the suspension of work at the site. On an agenda item relating to the auction of commercial plots at Kuchlak Road, the auction process was kept on hold for some time to put up a revised layout plan for the commercial area to maximize profit and optimally use the specified land.

Furthermore, the successful auction bids received and accepted by the committee with a difference of Rs. 8.3 million on higher side of six shops in I-16/3 project and one cancelled apartment of G-11/3 project, Islamabad was unanimously endorsed along with the approval of allotment of temporary spaces for shops or cabins in I-16/3 project on pre-stated terms and conditions to facilitate the dwellers of this scheme.

In addition to this, board consented to the policy of allotment of housing apartments to the officers of PHA with fixation of permanent seniority under 1 percent quota besides granting permission for a mandatory management course for the mid-career officers of technical cadre in PHA.