Prime minister Imran Khan directed a ceremony regarding the distribution of 1,500 flats and houses to needy classes under the Naya Pakistan Housing Project. He was addressing a ceremony in Islamabad, he added that this segment in Pakistan was disregarded during the past governments.
PTI government objective
PM Imran said that land prices make it hard for the salaried class, laborers, and workers to assemble or buy their own. However, the government of Pakistan Tehreek e Insaf (PTI) has begun Naya Pakistan Housing Project with another outlook to offer help to these individuals of the society to have their own house.
He said one of the PTI government’s essential objectives is to improve the condition of poor and underprivileged society sections. In the next step, 1,504 more projects will be constructed.
Bank will provide loans to poor people
He said the government had launched legislation under which the banks will give loans on five percent loan cost to develop houses. Moreover, the banks have promised to save 380 billion rupees for this reason.
Under Naya Pakistan Housing Program, houses will be assigned among widows and handicapped, other than workers, on ownership rights to the individuals who are earning not as much as Rs 0.5 million.
The interest rate on these houses remain the same
Also, PM Imran gave over the keys to those whose names were chosen. He added the government is paying Rs300,000 on each home and flat. Financing costs on these houses will remain the same at 5% for the following 20 years, even with alteration in the nation’s loan rates.
This program will provide job opportunities
He said there is a bang in the construction business because of the current government’s incentives. He said this wouldn’t just raise wealth creation but also give young people job opportunities under Naya Pakistan Housing Program.
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