Special Task Unit to expedite 620,000 new houses for low-income families

Thursday, 2 February 2017 00:33 - - {{hitsCtrl.values.hits}}

Land bank to be established by STU
STU to have authority to give necessary approval to construction companies in land clearance

A program to build 620,000 houses by 2019, led by a Special Task Unit (STU), was approved by the Government this week.

The STU is to be established as a limited liability company under the General Treasury as per a Cabinet proposal approved last year. The unit, after consultations with the Prime Minister, President and the Finance Minister, has presented a plan to establish a land bank allocated for housing projects under the program.

The lands allocated will be identified following consultation with relevant ministries, local government bodies and district and divisional secretaries. The bank will function under the supervision of representatives nominated by the President, Prime Minister and Finance Minister and will be approved by the Cabinet.

Further, the responsibility of directing and managing the STU has been assigned under the Performance Efficiency Management Unit (PEMU) of the General Treasury. The process of allocating land is to be treated as a priority, with authority given to the STU and the PEMU to grant relevant State approval required by construction companies to carry out work in the allocated lands. The Government also allocated Rs. 24 million for establishing and managing the unit.