ISLAMABAD: MAY 15 (DNA):Federal Minister for Housing and Works, Mian Riaz Hussain Pirzada, chaired the 59th Board of Directors (BoD) meeting of the Pakistan Housing Authority Foundation (PHAF) at the Ministry of Housing and Works, Islamabad.
The meeting agenda included the confirmation of minutes of the 58th BoD meeting and the waiver of delayed payment charges on the additional cost of B-Type Blocks 19 to 24 at the I-16/3 project in Islamabad, which was unanimously approved by the Board.
On the matter of launching and constructing a commercial center at the PHA-F Kuchlak Road project in Quetta, the Board directed the initiation of an Expression of Interest (EOI). This measure aims to assess commercial viability and ensure a rational funding decision without impacting the budget allocated for the residential component of the project.
The Board also approved the shifting of funds from Silk Bank, in accordance with a previous BoD decision. This will be conducted through a transparent bidding process, inviting offers from multiple banks under open competition.
In addition, the Board approved the arrangement of short-term loan funding by reallocating resources from other projects to address the shortfall of funds for the I-12/1 project in Islamabad. The objective is to clear outstanding contractor payments for various infrastructure works.
In addition to this, an update was presented on the ongoing development at PHAF’s housing scheme in Surizai, Peshawar. It was informed that the temporary police station has been completed, enabling the deployment of police personnel to enhance security and assist in land acquisition and encroachment removal.
Furthermore, the Board approved the appropriation of budgetary estimates for FY 2024–25, amounting to Rs. 5.8 million, as recommended by the Board’s Finance Committee. The reallocation of surplus funds across specific budget heads aims to ensure smooth financial operations.
Regarding the adoption of the Joint Venture (JV) and Public-Private Partnership (PPP) policy by PHAF, the Board resolved to move forward with revising the Memorandum of Association (MoA) and Articles of Association. This step is intended to introduce a more flexible development model, particularly for commercial areas, making future projects financially viable and aligned with public welfare objectives
During the meeting, Minister Pirzada reaffirmed his zero-tolerance policy on disciplinary issues within the Ministry’s subordinate organizations. He instructed departmental heads to maintain strict oversight and control, and directed the senior management of the Ministry to ensure accountability and full compliance in light of the Prime Minister’s recent directive to strengthen ministerial governance.
:Federal Minister for Housing and Works, Mian Riaz Hussain Pirzada, chaired the 59th Board of Directors (BoD) meeting){kind=link}