The Union Ministry of Labour is toying with the idea of setting up a low cost housing corporation. The corporation will be modelled on the lines of any other housing corporation in the other central government organisations.
Stating this, the Union Minister, Bandaru Dattatreya today said the seed capital for the corporation will be drawn from the corpus of the EPFO account, which has about Rs 27,000 crore.
There are about 15 crore subscribers out of which 4.5 crore are active subscribers. There has been a long pending demand from the subscribers to provide them low cost housing. This is under active consideration at the meeting of the Central Board of Trustees, the minister told newspersons here today.