‘Foreign banks keen to invest in Naya Pakistan housing project’

ISLAMABAD: Foreign banks have shown keen interest to invest in mega project of ‘Naya Pakistan Housing Programme’ (NPHP) announced by Prime Minister Imran Khan, said government spokesperson on Economy and Energy, Dr Farrukh Saleem.

Talking to a state-run TV channel, Dr Farrukh Saleem said NPHP programme will facilitate the masses and would help to boost various sectors of national economy.

Explaining about the benefits of the programme, he said World Bank will invest in mortgage business and it would be proved as a huge economic driver too.

To a question, he said the government’s role is as a facilitator in this programme with no plan for investment.

Dr Farrukh said one window operation has planed while private sector will do mortgage financing and builder.

Responding to a question, he said in this 5 million houses’ programme, the government has decided to construct 40 percent houses in rural areas, 40 percent in urban and 20 percent in slums areas.

The Spokesperson said the government is committed to facilitate the masses and formulate various policies to provide jobs to youth as 100 textile mills will be revived in near future which were remained closed from a long time due to high prices of gas.

Farrukh Saleem said due to failed policies of former governments, the national economy is facing various challenges and now the government is taking serious steps for the revival of industries to enhance the export for the development and prosperity of the country.

Prime Minister Khan launched the scheme named Naya Pakistan Housing Project earlier this month under which five million houses would be constructed in five years.

In the first phase of the project, low-cost houses will be built in seven cities which include Islamabad, Sukkar, Gilgit, Muzaffarabad, Quetta, Swat and Faisalabad.