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Imran Khan announces new ordinance for easy financing of houses

It will be approved by the cabinet on July 16

SAMAA | - Posted: Jul 15, 2019 | Last Updated: 2 years ago
Posted: Jul 15, 2019 | Last Updated: 2 years ago

Prime Minister Imran Khan has made two new announcements about the government’s ambitious scheme to build five million houses across the country.

The first was about the introduction of a new ordinance to make financing of houses easier. The ordinance, he said, will be passed by the cabinet tomorrow (Tuesday). It is on foreclosure laws. “A case over this law has been stuck in court for some time. We have waited for 10 months and realised it will take too long,” he remarked.

He was giving a speech at the inauguration of the registration of the Naya Pakistan Housing project in Islamabad on Monday. He started his speech with an emphasis on his long talked about vision to provide affordable housing to the poor sections of society.

Related: PM Khan’s ambitious housing scheme launched in Islamabad

The premier then said that the poor, salaried class and government employees don’t have any means to build houses for themselves and their families. The purpose of the Naya Pakistan Housing Authority, he said, is to make housing accessible to such people.

He explained that the new ordinance will make such financing easier. Till now, since there are no foreclosure laws, people haven’t come forward to finance houses, he said.

His second announcement related directly to the event’s agenda: registration.

In the past, houses have been made without checking if there was a demand for them in a particular area, PM Khan said, emphasising that the government was now introducing a new system to check the demand for housing. This is the main purpose of the registration portal, he said, adding that it would give the government an idea of how many houses need to be made, how much finances people can put in and what exactly is the situation of the housing sector.

Related: ‘Our dream is for every Pakistani to have a house’

Pakistan lags behind in the housing sector, PM Khan said.

On July 11, PM Khan laid the foundation stone for the Naya Pakistan Housing Scheme in Islamabad’s Zone 4.

“The government is working with the private sector on the project,” the premier had said while addressing the groundbreaking ceremony. “We don’t have the money to build five million houses but we have land where such houses can be built.”

He had remarked that more than 18,500 houses will be built in Islamabad’s Zone 4 under the scheme. “The government will hold balloting for at least 10,000 houses.” These houses will be given to those can’t afford one. “We want the poorest of people to have houses too.”

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