CDA Decides to Sell Low-Cost Apartments to Overseas Pakistanis, instead of Low-Income People
The Capital Development Authority (CDA) has recently proposed a plan to sell flats that were initially intended for low-income individuals to overseas Pakistanis. The CDA’s reasoning for the proposal is to attract foreign investment and boost the country’s economy. According to their plan, overseas Pakistanis will be given priority to purchase these flats, which will be sold at a higher price than their initial low-income intended price. This, in turn, will generate more revenue for the CDA and help fund other development projects.
However, many people are concerned that this plan will only benefit the wealthy and not the low-income individuals who were initially meant to benefit from the low-priced flats. They argue that this plan will only exacerbate the economic divide in the country and widen the gap between the rich and the poor.
The low-cost apartments were introduced back in 2021, under the Prime Minister’s Naya Pakistan Housing Scheme, which was intended to provide inexpensive housing options for people with low income. Almost, 4,000 apartment units are developed under this scheme for low-income people.
Furthermore, NPHDA intended to finance 2,000 apartment units and sell them at reduced prices to low-income people. Moreover, 400 out of 4000 apartments were specified for people living in squatter camps in Islamabad, which is still the plan, said an official. Families living abroad can now invest in these apartments, but payments should be made in U.S Dollars only.
Furthermore, some critics argue that the CDA’s proposal to sell low-income flats to overseas Pakistanis is a betrayal of their mandate to provide affordable housing for low-income individuals. They argue that this decision is a clear indication of the government’s failure to address the housing crisis in the country.
However, others see this move as a necessary step towards attracting foreign investment and boosting the economy. They argue that the revenue generated from the sale of these flats will help fund other development projects that will benefit the country as a whole. Moreover, the plan will also provide an opportunity for overseas Pakistanis to invest in their homeland and contribute to its development.
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