Such loans were taken in the past which instead of wealth creation further increased burden of loans:
PM Imran Khan

ISLAMABAD, (MANEND NEWS): Prime Minister Imran Khan performed the groundbreaking of Farash
Town apartments in Islamabad on Thursday under Naya Pakistan Housing program.
Later addressing the ceremony, the Prime Minister Imran Khan said the project envisaging construction
of two thousand flats is aimed at providing shelter to the underprivileged segments of the society
including workers and labourers. He said he will soon perform groundbreaking of peri-urban housing
society for the farmers.
The Prime Minister said a plan has also been prepared to convert the slums and equip them with the
modern facilities including that of sanitation and sewerage. He said the slum dwellers will be given
houses on proprietary rights.
He said the mortgage facility has been introduced to provide loans to the people on easy installments so
that they could construct the houses. He said negotiations are continuing with the banks to remove any
impediments.
The Prime Minister regretted that the economy was mismanaged in the past. He said such loans were
taken in the past which instead of wealth creation further increased the burden of loans. PM Imran Khan
claimed that the government has returned the loan of Rs 35 thousand billion during the last two and
half years.
Prime Minister Imran Khan said the government is focusing on wealth creation projects to retire the
country’s debt. He said these include Ravi City and Central Business District in Lahore whilst negotiations
are being held with the Sindh government to develop the Bundal Island. He was confident that these
projects will attract massive investments.
He said the projects to be executed under Naya Pakistan Housing Program will also uplift the thirty
industries allied with the construction sector.

Imran Khan expressed satisfaction over increased activity in the construction industry. He pointed out
that the cement sale remained at record level last year while growth has also been witnessed in the tax
collection which indicates the business activity has increased in the country.
Imran Khan said it is the first time that the country’s textile industry is witnessing a record boom. He
said the small and medium enterprises will also be uplifted to increase their share in the economy.

Imran Khan said we have envisaged upgradation of railway line from Karachi to Peshawar. He said
negotiations are also continuing to take the train service to the Central Asian States to promote regional
trade.

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