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HomeNationalReconstruction of two million houses would cost approximately Rs1 trillion

Reconstruction of two million houses would cost approximately Rs1 trillion

Reconstruction of two million houses in the rehabilitation phase of flooded areas would cost approximately Rs1 Trillion.

Wide-scale infrastructures including houses have been damaged due to the catastrophic floods. However, the reconstruction would also increase economic activities along with job opportunities in construction and other allied industries.

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During a press conference at National Bank of Pakistan, CEO Thardeep Microfinance Foundation (TMF) Sono Kangharani said that around two million houses would be reconstructed, according to the data of government as well as disaster management authorities (NDMA and PDMAs). He also said that the foundation had so far financed upto 1,400 low-cost housing units during 10-12 years before the floods hit the country.

Kangharani also said that direct and indirect activation in construction and 25 other allied industries would be helpful in job creation, further adding that estimating Rs500,000 per unit cost wound cause Rs1 trillion to be incurred for the construction of two million houses.

He was speaking at a press conference organized by the National Bank of Pakistan (NBP). NBP President and CEO Rehmat Ali Hasnie announced a contribution of Rs50 million on behalf of the bank to the Prime Minister’s Flood Relief Fund. The bank has also collaborated with the provision of water purifiers to flood-stricken families.

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