Karachi: Muhammad Zubair Motiwala, Chairman Sindh Board of Investment, has said that TOKI, a state owned Housing Development Administration of Turkey intends to increase cooperation for urban transformation such as Infrastructure Development, Low Cost Housing Projects and conversion of slums/shanty towns into Modern Housing facilities.
Zubair Motiwala, currently visiting Turkey, said in a meeting with TOKI officials that Sindh required continuous effort for Urban Transformation of slums. “With ever increasing population of Karachi it is now need of time to create similar institution in Sindh and utilize experience of TOKI for development of effective legislation and technical collaboration between TOKI and government of Sindh.
He said that Sindh is a land of opportunities and Karachi is a commercial Hub of the province that attracts huge volumes of migrants from all over Pakistan, which has resulted many slum areas and shanty towns right in the heart of city. “The increase in population increases the demands for modern living facilities mainly housing.
Chairman SBI added that Sindh also have many small cities those immensely required transformation.
Earlier, President of TOKI, Ahmet Haluk KARABEL informed that in Turkey, TOK? has a leading role through international commitments on human settlements area and in this respect, considering national priorities. TOK? carries on its activities on housing and urbanization fields by providing informational flow through international institutions. It was developed in 1984 and till date constructed more than 562000 houses & provided credit to 1 million houses in Turkey. It produces 85% social houses & 15% Revenue Houses with an annual spending of approximately 5.5 Billion USD. TOKI has developed around 562,000 housing Projects with total spending of 33 Billion USD.
TOKI welcomed the suggestion and it was mutually agreed that SBI, after consultation with Karachi Metropolitan Corporation will formally approach Ministry of Economy, Republic of Turkey for execution of proposed Plan.
TOKI’s expertise in Construction of Pre-Fabricated houses for low cost income groups and conversion of slum areas in well-developed housing scheme can be used to convert shanty towns into commercially viable Project.
President TOKI informed that TOKI is operating in Indonesia, Sri Lanka, Pakistan (Kashmir), and Somalia and would like to extend its scope of work in Pakistan through construction of Pre- Fabricated houses for low cost income groups in Sindh.