Economy, Domestic Economy
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Mehr Completion Postponed

Mehr Completion PostponedMehr Completion Postponed

The government is determined to complete the Mehr Housing Project by the end of the upcoming fiscal year (starting March 21), while 90 percent of the housing units of this projects will be completed by the end of the current year, deputy minister of roads and urban development Ahmand Asghari Merabadi, said in a meeting in the southern province of Hormozgan on Thursday. The official said the ministry is not capable of completing the project relying on its own financial resources calling for more support. From the total 2.3 million housing units of this project, 1.72 millions have been completed and 1.3 million have already been turned over to their owners. The Mehr Hosing Project, initiated in 2007 by the former administration, was expected to provide two million low-income strata of the society with housing units through free land and cheap credits. But the nationwide scheme slowed down later due to lack of funding.

Financialtribune.com