Prime Minister Imran Khan on Thursday (today) hander over 1,500 residential flats to laborers and individuals from working class under federal government’s Naya Pakistan Housing Program in Islamabad.
Expressing his views at the ceremony, PM Imran Khan reiterated government’s commitment for poverty alleviation and uplifting of underprivileged class.
During the ceremony, the candidates were chosen by ballot draw, with PM Imran Khan himself handing over the keys to the winners.
The premier apprised that government is paying Rs 300,000 for each flat and house with the interest rate frozen at 5 % for the next 20 years.
"حکومت تنخواہ دار اور محنت کش طبقے کو گھروں کی فراہمی کیلئے آسانیاں پیدا کر رہی ہے،"
وزیرِ اعظم عمران خان، محنت کش طبقے میں گھر اور فلیٹس الاٹ کرنے کی تقریب سے خطاب۔ #محنت_کش_کا_وزیراعظم pic.twitter.com/JOBbuEkbyQ
— Prime Minister's Office (@PakPMO) March 18, 2021
"پہلی دفعہ متوسط طبقہ اپنے ذاتی گھر کا خواب پورا کرسکے گا،"
وزیرِ اعظم عمران خان، محنت کش طبقے میں گھر اور فلیٹس الاٹ کرنے کی تقریب سے خطاب۔ #محنت_کش_کا_وزیراعظم pic.twitter.com/ux3vOqhrZG
— Prime Minister's Office (@PakPMO) March 18, 2021
The prime minister also announced to allocate more funds for the housing program with the increase in the revenue of the government so that the working and the salaried class could build their houses.
The first phase of Naya Pakistan Housing Program has been launched in Islamabad spreading across 2,560 acres and comprising of 1,008 apartments and 500 houses respectively.
Meanwhile, banks have promised to set aside Rs 380 billion for the construction of residential units, said PM Imran Khan. The premier has also directed State Bank of Pakistan to ensure that these loans are easily available to the people and that these loans can be repaid over a period of twenty years.
The initiative is a joint venture between federal government and Workers Welfare Fund.
The next phase will include construction of another 1,504 residential units, said Zulfi Bukhari who further termed this project as the beginning of providing low cost and affordable houses to the weak segments of the society.
Naya Pakistan Housing Program
Pakistan is currently facing an overall housing backlog of 11-12 million housing units. The urban housing shortage is estimated to be around 4 million. Pakistan’s urban population is one-third of the total population, which is expected to reach 50% by 2050. Most of the urban housing backlog is in low and lower-middle income segments of the population.
Federal government under PM Imran Khan launched the Naya Pakistan Housing Program to address the aforementioned crisis in Pakistan’s housing sector. The government has established Naya Pakistan Housing and Development Authority (NAPHDA) in January 2020 to fulfil its objective of delivering five million housing units with allied amenities to all citizens, especially focusing on the financially vulnerable and middle-income communities, as a measure of comprehensive socio-economic uplift. Thereby, reviving industrial growth and creating employment opportunities in the country.
