Govt is committed to provide houses to people at affordable rates: PM
Prime Minister Imran Khan has said that his government is committed to provide houses to people at affordable rates.
While addressing a ceremony after laying the foundation stone of Naya Pakistan Housing Program near Islamabad, Imran Khan said 18,500 housing units will be built on this site, of which 10,000 will be allocated to people with lower income background.
He said that balloting will be held to choose the eligible people keeping in view the large number of applicants. The project is expected to be completed in one and half years’ time.
PM Imran said the housing units will be built on public-private partnership basis wherein the government will provide land and the private sector will construct housing units.
The Prime Minister said that 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.
He said that 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.
Imran Khan said that the Naya Pakistan Housing Program will enable government servants and other people to get house at affordable installments.
He concluded that two slums areas in Islamabad have been identified to start the project, adding that the housing project will be expanded across Pakistan in phases.