Housing sector’s promotion to strengthen national economy, industrial growth: PM

Sargodha: Prime Minister Imran Khan on Wednesday said the government’s special focus on housing and construction sector would strengthen national economy, stabilize industrial growth and generate employment for youth.

Addressing at the foundation-laying ceremony of affordable housing project under the Naya Pakistan Housing Program in Sargodha district, the prime minister said promotion of housing sector would not only ensure economic activity, but also help the common man realize his dream of owning a home.

Under the project, a total of 1,175 houses measuring three marlas each will be constructed at six places in Sargodha district.

The Punjab government will provide land and other facilities for the project. The construction work will be carried out by the Frontier Works Organization. The Bank of Punjab taking charge of mortgage facility will enable deserving people to pay total price of the house in easy installments.

Imran Khan said for the first time in country’s history, a mortgage house finance was launched at such a big scale, but at lowest markup rate.

He said the low-cost housing scheme would be expanded to all tehsils of the country by year’s end.

Imran Khan regretted that delay in accommodation projects by previous governments led to mushroom growth of slums which had no basic amenities of life.

He said no one in the past demonstrated empathy for the poor and kept them living in harsh conditions without proper shelters.

The prime minister stressed the important role of banks in lending loans to public and mentioned that the clearance of foreclosure law of banks after a long resulted into finalization of the massive housing project.

He pointed that banks were not providing proper services to those aspiring loans and called upon the relevant authorities to give the staff proper training to improve public dealing.

The prime minister lauded Chief Minister Buzdar for successfully overseeing across-the-ministerial housing project.

He appreciated that the Punjab government had taken lead in providing land for the project and expressed confidence that Khyber Pukhtunkhwa would also follow suit.

Chief Minister Punjab Sardar Usman Buzdar said the project would be expanded to 146 tehsils.

He said the monthly installment had been set at Rs 10,000 to make the project affordable.

He said Rs 0.3 million subsidy by the government of Punjab would facilitate the people, adding that the Punjab cabinet had approved Rs 3 billion for the purpose.

Earlier, the prime minister laid the foundation-stone of affordable houses and planted a sapling in line with the Clean and Green Project.

For the allotment of houses in Sargodha district, the Naya Pakistan Housing Authority will allot houses to the deserving people through ballot.

Around 33,528 applications have been received by the government.

Federal Minister for Science and Technology Chaudhry Fawad Hussain said the dream of construction of five million houses was about to see the light of day.

Fawad said under the Prime Minister’s housing package, banks were giving millions for construction of houses. Also, the sale of cement is being recorded high in the country’s history, he added.