Times of Islamabad

PTI government to follow European mortgage model for Housing Programme

PTI government to follow European mortgage model for Housing Programme

LAHORE – Punjab Senior Minister Abdul Aleem Khan on Sunday said that workon permission for construction of multi-storey buildings would also bestarted, whereas a mortgage policy on the patterns of Europe and Americawould also be implemented for house building finance, he added.

He called upon private sector to play a role in construction of fivemillion low-cost houses under the Prime Minister’s Programme.He said that Prime Minister Imran Khan was determined to provide housingunits to the poor people and for the purpose, concrete planning was beingdevised, he added.The minister expressed these views while talking to the Members ofAssociation of Builders and Developers of Pakistan (ABAD), who called onhim here.Abdul Aleem Khan said that such huge number of houses would be built at thesame time for the first time in the history, adding that a lot of work hasto be done in the housing and construction sector. The work has alreadybeen started on the establishment of new by-laws which would support andsecurethe private investors, he maintained.The minister said that work on permission for construction of multi-storeybuildings would also be started, whereas a mortgage policy on the patternsof Europe and America would also be implemented for house building finance,he added.He asked the ABAD members to come forward and share their experiences withthe government to resolve the issues of housing sector.Abdul Aleem Khan said that people have great expectations of PrimeMinister’s Housing Programme, and that was why all efforts were beingensured to make the scheme a success.