PM Khan lays foundation stone of housing project in Islamabad's Zone 4

ISLAMABAD: Prime Minister Imran Khan laid the foundation stone of a new phase of Naya Pakistan Housing Scheme in Islamabad’s Zone 4 on Thursday, ARY News reported.

PM Imran Khan, while addressing the ceremony, expressed his happiness over the initiation of the Naya Pakistan Housing Scheme and vowed to expand the project to other parts of the country.

“We have started this housing scheme along with the private sector as the government has not enough resources to built 5 million houses. However, the government has vacant land all over the country,” said PM Khan.

He announced that 10,000 houses will be given to needy people through lucky draw who cannot afford to purchase a home. The houses will be handed over to the people after 1.5 years of the lucky draw.

“Approximately 40 per cent of people are living in slums in Karachi. The government will construct houses on half of the government land for the citizens in the metropolis, whereas, the remaining land will be allotted to develop commercial centres.”

He added, “The same kind of housing schemes were also introduced in Turkey, India and Malaysia. A common man cannot purchase a house due to lack of income. Salaried persons and government employees could now have their own home against payments in small instalments. In America and Britain, the people up to 80 to 90 pc could build their homes by acquiring loans. In India, people only up to 10 pc can get loans for houses, whereas, 30 pc people can acquire loans through banks in Malaysia for building their homes.”

The premier announced, “The government is now legislating a law for an easy loan programme from banks which would facilitate nationals to own houses. We will give you an opportunity to build your own house through your salary.”

It must be noted that under the Naya Pakistan Housing Program, 135,000 housing units will be constructed across Pakistan in the first phase. 25,000 apartments will be built in Islamabad for federal government employees and 110,000 apartments will be constructed in Balochistan, mainly for the fishermen of Gwadar.

In Azad Jammu and Kashmir, 3,000 units would be established.