"Then We revived you after your death, so that you may be appreciative." (Al-Baqarah: 56)
  • Friday 19, October 2018

PM Imran Khan Launched Naya Pakistan Housing Project

PM Imran Khan Launched Naya Pakistan Housing Project

Finally, Prime Minister Imran Khan launched the flagship Naya Pakistan Housing Project during a special ceremony at Prime Minister’s Office. The inauguration of the project is part of government's election manifesto of constructing five million houses for the homeless people in its five year tenure.The PM has announced to personally monitor the project.
The Prime Minister has already formed a 17 member task force to head the project and to finalise the modalities and policy frame work to build 5 million houses. The Housing Authority will be set up in 90 days.

This project is aimed to provide homes on ownership basis to the homeless people. The legal formalities are under way to legalise the project. The law ministry is working on a summary to frame the rules and regulation of the project.

The PM said on the occasion that“our target is to build five million homes in five years. The homes are to be made for the common man, who earns Rs10,000 – 25,000 a month.” He also said that boosting the construction industry would directly solve the country’s unemployment problem.

One country wants to invest USD 20 Billion in the housing industry in Pakistan,” Prime Minister Khan said. “Insha Allah, we will steer Pakistan out of crises. It’s a difficult time for us but this too will phase soon,” he said.

The housing scheme is our real scheme. At least 40 industries are directly related with the housing scheme. When we launch the project, all these industries will benefit from it,” he said. "Our target is to build five million affordable houses in five years.  Only ordinary people will benefit from this scheme," PM said.

"A common man who can never think of owning his house is our target. And our second target is to provide employment opportunities to our jobless youth," he said, adding that 40 industries were directly linked with the housing project.

"We will encourage youth to set up their own construction companies to be part of this initiative," the premier said. Khan said that skill development program would also be launched to help youth benefit from the project.

He announced that Naya Pakistan Housing Authority would be set up to provide one-window operation to investors. The prime minister said that government would only provide land while the rest would be done by private sector.

"We will collect data of katchi abadis (shanty towns) from across Pakistan. Nobody has ever thought about katchi abadis. We will first locate katchi abadis and resettle them with all the facilities along with ownership rights," he said.

The prime minister said that a pilot project would be launched in 60 Pakistani districts to register data about the demand for new housing. The construction, he said, would begin after the completion of registration and evaluating the mortgage capacity of buyers.

The PM also announced to form a regulatory authority. "We never had any financing model. We are preparing a new regulatory body to help arrange financing for the houses. The National Financial Regulatory Body will be set up in 60 days."

A new scheme, Prime Minister Khan announced, would be set up to build a housing colony for federal government employees.  The scheme would kick off on October 11. "I have also called Punjab Housing Minister to discuss the issue for the province," he said. "Insha Allah, our step by step process will begin from October 11. Our growth rate will accelerate and youth will get new jobs."

He urged the nation to lift their morale, saying this difficult situation would be addressed soon. The difficult time will be over soon.  "The reforms we are taking will start taking effect in six months. Pakistan is a rich country. It's a gift of God."

By Khalid Bhatti ACE NEWS