Project Description

i- The name of the company shall be “PHA Foundation”

ii- The registered office of the company will be situated in the Islamabad Capital Territory.

iii- The objects for which the company is established are as follows.

1- To eliminate shelterlessness through development and construction of apartments for low income groups, employees of the Foundation and other specified groups of people as decided by the Foundation from time to time on ownership basis and at an affordable cost.

2- To initiate launch sponsor and implement Housing Schemes for the low income groups employees of the Foundation and other specified groups of people as decided by the Foundation from time to time on ownership basis in Islamabad and other countriese of Pakistan.

iv- In order to achieve its objective, the Company shall exercise the following powers.

1- To open and operate bank accounts in the name of the Company and to draw ake accept, endorse, execute and issue promissory notes, bills, cheques and other instruments.

2- To takeover and / or otherwise acquire all the assets liabilities claims rights privileges and other interests if any of whatever kind of the existing authority i.e Pakistan Housing Authority, having un-registered status and constituted through a Resolution passed by the Ministry of Housing & Works, Government of Pakistan bearing No. 1(1)/200- Works dated March 08,2000 which was Published in the Official Gazett, through Notification No, N-382/L 7646 dated March 10, 2000.

3- To appeal solicit or accept contributions donations grants and gifts in cash or in kind from lawful sources and to apply the same or income thereof for the objects of the Company.

4- To borrow or raise mony with or without security required for the purposes of the company apon such terms and in such manner as may be determined by the company for the promotion of its objects.