Govt’s housing scheme for under privileged & low income people will
boost construction sector: PM Imran Khan

ISLAMABAD, (MANEND NEWS): Prime Minister Imran Khan has said
that government’s housing scheme for under privileged and low
income people will boost the construction sector and thirty allied
industries, which will create wealth in the country to pay back its
debts.
Virtually addressing the Housing Telethon, PM Imran Khan said that it
is for the first time in Pakistan that low income people are being
provided mortgage financing to own their houses by paying
instalments in place of monthly rent.
Prime Minister said that the government is trying its best to give
preference to the widows and Special persons.
Prime Minister said that once the people will start constructing their
houses under the scheme it will boost the construction industry and
thirty other industries associated with it, which in turn will create
wealth in the country. He said that Pakistan is burdened with the debts
and wealth creation in the economy will help Pakistan repay its debts.
Prime Minister said that banks have an important role to play in
providing mortgage financing to people for construction or purchase of
their houses, therefore banks should facilitate people in this regard.
He said directed Governor State Bank Raza Baqir and President
National Bank of Pakistan Arif Usmani to ensure that the banks
facilitate people.

The housing telethon was live broadcast by Pakistan Television and
other channels. Senator Shibli Faraz, Governor State Bank Raza Baqir,
President National Bank of Pakistan and Chairman Naya Pakistan
Housing Authority Lt. Gen. (Retd) Anwar Ali Haider, Executive Director
State Bank Samar Hasnain participated in the telethon.
Citizens participated live in the telethone via telephone and asked
questions regarding the process of applying for the loan in Naya
Pakistan Housing Scheme.
Speaking in the telethone Senator Shibli Faraz said that Prime Minister
Imran Khan is committed to make Pakistan a welfare state. He said
that Prime Minister’s scheme for low cost housing is aimed at provide
housing facilities to the common people. He said that the success of
the scheme depends on the role of the banks. The government is
ensuring that banks facilitate the people without any difficulties.
Speaking on the occasion Chairman Naya Pakistan Housing Authority
Lt. Gen. (Retd) Anwar Ali Haider said that process of providing loans to
the people under the Prime Minister’s low cost housing scheme has
begun.
Governor State Bank of Pakistan Raza Baqir said that State Bank has
an important role in the low cost housing scheme as it ensures that
the banks provide loans to the people as directed by the government.
He said earlier in Pakistan the contribution of commercial banks in
provision of loans for housing sector was less than one percent of the
economy. Raza Baqir said that the State Bank will determine the
issues due to which the banks were not providing loans to the people
for construction of houses and resolve those issues.
He said that due to the Prime Ministers scheme now people can get
loans worth one million, which they can pay back in monthly
instalments worth 6600 rupees.
President National Bank of Pakistan Arif Usmani said that National
Bank is facilitating people to get loans for construction of houses and
for this purpose 1500 branches of NBP are providing information to the
people, whereas 680 branches across the country are processing the
applications for loans.

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