Prime Minister Imran Khan on Thursday (June 11) laid the foundation of a mega project to build 18,500 housing units mainly for the low-income group. Last year, the prime minister had launched the Naya Pakistan Housing Programme under which five million affordable houses have been promised by the government for the under-privileged class during the next five years.
Addressing the ceremony, the prime minister said his government is a commitment to providing housing to the public at affordable rates. “18,500 housing units will be built on this site, of which 10,000 will be allocated to people with lower income background.”
“The number of people availing credit from banks for constructing their houses is very limited as mortgage practice is not very common in Pakistan’s banking system,” the prime minister said, adding, the government is working on a foreclosure law to promote the culture of housing mortgage as is the practice in many countries of the world.
“The Naya Pakistan Housing Programme will enable government servants and other people to get a house at affordable instalments,” he assured. “Two slums areas in Islamabad have been identified to start the project. The housing project will be expanded across Pakistan in phases,” he added.
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22 July, 2019