Real estate illusion

The government recently announced four housing projects for overseas Pakistanis. It is irritating that there is no shortage of housing and real estate opportunities for overseas Pakistanis, but there are none for the flood-affected Pakistanis who are languishing in refugee camps for almost a year now.

Overseas Pakistanis do not need houses in cities where they do not live. The greatest need for housing is in the flood-affected areas of the country.

The expected foreign exchange inflow from real estate is illusory. The amount we spend on importing materials and equipment cancels the benefit. The previous government had given immunity and incentives to the sector, with little to no benefit for the overall economy. The results of the present schemes are unlikely to be any different.

MUHAMMAD NABEEL

KARACHI