He will visit Sargodha today
Prime Minister Imran Khan will lay the foundation stone of a low-cost housing project in Sargodha. It will be a part of the Naya Pakistan Housing Scheme.
Under the scheme, the Frontier Works Organization will construct 1,175 houses at six locations. The government has so far received 33,528 applications for the scheme.
The PM has inaugurated new housing schemes in different cities as part of the government’s plan of providing housing to all.
On April 8, the PM broke ground on a new residential building in Islamabad. Farash Town Apartments will be completed in two years, he said while addressing the inauguration ceremony. “We want to provide subsidised houses to those who can’t afford it. Banks are not willing to give loans to poor people.” The project will help us provide houses to 2,000 people who never thought they could afford a house.
The next day he laid the foundation stone of a housing project in Lahore. At least 35,000 apartments will be built by the Lahore Development Authority under the project.
On March 26, the government announced that people borrow up to Rs10 million to finance a house of 125 to 250 square yards (5 to 10 marla) or an apartment with a covered area of 2,000 square feet.
The government has doubled the amount people can borrow under the central bank’s markup subsidy for the housing finance scheme. The government has also doubled the limit for smaller houses, 125 square yards or apartments with a covered area of 1,250 square feet, to Rs6 million and removed price caps in both these categories.
It even slashed the markup rate to 3% for housing units that fall in projects approved by the Naya Pakistan Housing Development Authority, making it the most affordable among all categories.
On March 18, the PM inaugurated Labour Colony Phase-I and Phase-II in Islamabad on Thursday. The government allotted houses to 1,518 labourers and widows under the scheme.
People earning less than Rs500,000 were given ownership rights of these homes. Around 3,000 individuals registered themselves under the Workers Welfare Fund. Of them, 1,500 were handed over these houses and flats through a draw.
The project spreads over 2,560 acres of land and comprises 1,008 apartments and 500 houses. This project was launched before but was abandoned due to a lack of funds. The government collaborated with the Workers Welfare Fund and completed the project under the Naya Pakistan Housing Programme.