ISLAMABAD (APP) - The Punjab government has invited a Malaysian firm 'Renexus to process its proposal of building 160,000 housing units on fast track basis in the province. Vice Chairman of Punjab Board of Investment and Trade Pir Saad Ashanuddin in a letter addressed to the Executive Chairman of Renexus (M) Bhd John B. Klerr has invited the top management of Renexus to visit Pakistan to fast track the proposal earlier submitted by the Renexus to build 20,000 low cost housing units in each of the eight major towns initially identified for the construction of housing units. The towns identified are Lahore, Multan, Bahawalpur, Faisalabad, Sargodha, Gujaranwala, Rawalpindi and Sialkot, according to a message received here from Kuala Lumpur, Malaysia Friday. The proposal of Renexus was discussed threadbare by a committee constituted by the Punjab government to oversee the housing sector proposals in the province and observations made by it have already been communicated to the construction company for obtaining further information on the proposed project. Pakistan High Commissioner to Malaysia while commenting on the invitation termed it as 'a unique opportunity for Renexus for gainful investment in the highly deficient housing sector of Pakistan and 'a good opportunity for Pakistan to engage Renexus for overcoming the acute shortage of housing units in the country. The High Commissioner also invited other Malaysian companies to take full advantage of government of Pakistans vision to provide decent housing facilitates to low and middle class family groups. The province of Punjab with 82 million population is facing a shortage of five million housing units with the increasing demand of 700,000 units per year against the annual production of 150,000 housing units, leaving a huge gap besides creating immense opportunities for the construction firms.