The government yesterday approved a Tk 57 crore project to build 500 modern apartments in Mohammadpur and Lalmatia under the housing and public works ministry for government officials.

Government officials will own the apartments, each 1,000 square feet, worth Tk 14.5 lakh and to be handed over by June 2005 on loans that will be repaid by their monthly government house-rent allowance.

The project was approved at a meeting of the Executive Committee of National Economic Council (Ecnec) at the National Economic Council, with Finance Minister M Saifur Rahman in the chair.

Seven other projects worth Tk 693 crore under various ministries were also approved in the Ecnec meeting, with another Tk 364 crore in project aid.