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Prime Minister Imran Khan on Thursday said that the Naya Pakistan Housing Scheme will be expanded all over the country.
Addressing a ceremony after laying foundation stone of Naya Pakistan Housing project in Islamabad Zone-IV, he said that the aim of this scheme is that the people who cannot buy their houses can purchase construct on installments.
“Malaysia, Turkey and India have also launched such schemes,” he said.
The prime minister went on to say that the housing units will be built on public-private partnership basis wherein the government will provide land and the private sector will construct housing units.
Imran Khan said 18,500 housing units will be built on this site, of which 10,000 will be allocated to people with lower income background. He said balloting will be held to choose the eligible people keeping in view the large number of applicants. The project is expected to be completed in one and half years time.
The prime minister said the number of people availing credit from banks for constructing their houses is very limited as mortgage practice is not very common in Pakistan s banking system. He said the government is working on a foreclosure law to promote the culture of housing mortgage as is the practice in many countries of the world.
Imran Khan said the Naya Pakistan Housing Program will enable government servants and other people to get house at affordable installments.
The premier also vowed to provide housing facility to poor people living in shanty areas and slums of the country. He said two slums areas in Islamabad have been identified to start the project. Imran Khan said the housing project will be expanded across Pakistan in phases.