ISLAMABAD – Prime Minister Imran Khan has said the government is committedto provide affordable houses to poor people.
Launching low cost housing finance policy in Islamabad this evening, hesaid low cost housing is a component of PTI Government for povertyalleviation.
He said a huge population of Pakistan cannot afford its own house that iswhy the government is going to finance the cash starved people to buildtheir own houses.
The Prime Minister said it is a beginning, which will not only provide roofto the downtrodden, but its multiplier effect will also give boost to 40other industries and provide jobs to the youth.
Imran Khan also announced to bring an ambitious program for shanty townsfor which developers will be encouraged for construction of flats with allfacilities. He said we have to stop spread of cities, which are engulfingcultivated land and creating climate issues. He said Islamabad will be mademodel city with vertical buildings. He said construction of high-risebuildings will be encouraged to protect green areas.
Imran Khan said people living in katchi abadis will be given ownershiprights with civic facilities.
Read Top Stories
Highlighting salient features of the low cost housing project, GovernorState Bank Tariq Bajwa said a housing unit costing below than three millionrupees will be funded under this programme. He said banks will provide loanup to 2.7 million rupees under this scheme. He said banks and otherfinancial institutions are being incentivized to extend loans for thescheme.
Tariq Bajwa said special segments, including widows, transgenders, martyrs,people living in war against terror hit areas, and orphans will be givenpriority under this scheme, which will be available on new houses. He saidthese units can neither be rented nor sold.
He said reduced cost financing will be made available for 100,000 housingunits with the mark up ratio of five percent for 12.5 years.
