Now approved mortgaging for low-cost housing is a first in Pakistan: PM

ISLAMABAD: The State Bank of Pakistan has approved of Rs69 billion in mortgage financing schemes for the Naya Pakistan Housing & Development Authority (NAPHDA) to facilitate low-income earners in building their own house, ARY News quoted the authority chairman in a briefing on Friday.

Chairman NAPDA Lt Gen (retd) Anwar Ali Haider called on Prime Minister Imran Khan and expanded on the progress of low-cost housing projects in the country under the Pakistan Tehreek e Insaf-led project.

Premier Imran Khan expressed satisfaction over the low-cost housing project said provision of low-cost accommodation to people was among the top priorities of the government.

For the first time in Pakistan, he said, the government had initiated mortgage financing.

Imran Khan said the low-income groups shall now be able to have a comfortable residence of their own instead of spending exorbitantly on rentals.

PM Imran Khan receives telephone call from Iraqi counterpart

Separately yesterday from the Prime Minister House, the premier received a telephone call from his Iraqi counterpart Mustafa Al-Kadhimi.

PM Imran Khan wished the Iraqi government success in holding the parliamentary elections in October this year and expressed hope that democracy and democratic institutions would be further strengthened in Iraq.

He also congratulated the Iraqi prime minister for the successful holding of the Baghdad Conference for ‘Cooperation and Partnership’ last month, PM Office said in a statement.