PM Khan launches scheme to build five million low-priced houses

Irving Hamilton
October 11, 2018

Referring to the launch of his ambitious Naya Pakistan Housing Program, the Prime Minister said the entire administrative structure for the project would be completed on priority and it would not only generate economic activity but also add new entrepreneurs, increase skills of the workers and create employment.

PM Khan speaking with the media said his government's decision to seek International Monetary Fund loan, will be obtained for a short period to bridge the external financial gap.

When the PTI government came into power, it got a Rs18 billion deficit as a "gift" from the previous government, he said.

"Nations face ups and downs, go through hard times, and I can assure you that in six months time, you will look back and say this was nothing", he added.

He said 10 billion dollars are laundered every year. "The previous governments have taken loans mercilessly".

He said his government would make efforts to ensure that all remittances are transferred into the country through proper banking channels.

Announcing the launch of the housing scheme, the premier said that five million houses will be constructed over the next five years under the "Naya Pakistan Housing Project". It will also attract local and foreign investment and stimulate about forty related industries.

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"A special housing authority would be established in three months to serve as one window for all construction-related formalities. A task force would look after the housing project until then", he added.

A legal framework would also be prepared to ensure that there are no legal hurdles in the way of implementation of the housing project.

He said that a land bank, which will only cater to loans and financial dealings of properties, will be formed too.

The prime minister said in the first phase pilot projects would be launched in seven districts of the country. To gauge the demand for housing, the government will hold a registration drive in different districts of Pakistan.

He said the federal government is launching first project for its employees and registration for the same would begin from tomorrow.

"This analysis is also important as our government, which sees that the country is already in debt, will have to think twice about taking more loans".

Chairing the Cabinet meeting here at the PM Office, the Prime Minister said the government and the people of Pakistan have the right to know where these huge amounts were spent and were these beneficial for the country or not.

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