Low-cost housing scheme launched by PM Khan in Pakistan

Muscat: Pakistan’s Prime Minister has launched the first phase of Naya Pakistan Housing Scheme on Saturday that will offer low-cost housing units.

Naya Pakistan Housing Scheme, a project launched by the current government of Pakistan, Tehreek-e-Insaaf (PTI), offers affordable houses for under privileged segments of the society.

Imran Khan, Prime Minister of Pakistan and Chairman of PTI laid the foundation stone of the new housing project in Renala Khurd in Okara, and said that the government aims to construct five million houses in five years.

“Despite all difficulties, the incumbent government has embarked upon to construct five million houses. This housing society will give a chance to those who could never imagine owning a house of their own,” Khan said while addressing media and people at the inaugural ceremony of the housing project.

He continued saying that the private sector will invest in this mega project while the government will play the role of facilitator.

"I am confident that the project will gather pace with each passing year as Naya Pakistan Housing Authority has been established and all the hurdles in the way have been removed with amendments in the rules and regulations of State Bank of Pakistan.

"The housing project will enable the youth to establish construction companies. This mega project will uplift forty industries allied to the construction which will generate economic activity and job opportunities for the youth," the prime minister said.

For the construction process, he said that banks will lend loans to the families, and even low-income families will be able to acquire those loans. “Through mortgages, the low-income families will be given homes.”

He added that the government is working on a new program that will convert the slums into residential projects.

"The government is also bringing a program for katchi abadis (slum area) in which these slums will be converted into flats where people will have access to basic amenities including water, electricity and sewerage," Khan said.

He continued saying that only those societies progress which care about its less privileged. “We need to work providing shelter to those who do not have anywhere to live and food to those who are hungry,” Khan said.

Giving the example of the state of Madina, he said: “Riyasat-i-Madina was the first welfare state. The system in Europe today is based on the one brought by our Prophet in Riyasat-i-Madina. It was the foundation for the Muslims.”

Khan said foreign investment and creation of wealth will help Pakistan getting out of economic crisis and to achieve prosperity. He said that the only way to take country out of hard economic situation is to attract foreign investors, and that the increase in investment will create new job opportunities.