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PM Imran urges housing ministry to ensure timely completion of projects

Says shortage of housing is a problem in country
Published 25 Jan, 2022 07:09pm
“I am happy for the first time in Pakistan’s history, the banks have approved projects worth Rs124b in last 8-9 months and worth Rs40 billion funds have been given to the public,” says PM Imran. Photo via Facebook
“I am happy for the first time in Pakistan’s history, the banks have approved projects worth Rs124b in last 8-9 months and worth Rs40 billion funds have been given to the public,” says PM Imran. Photo via Facebook

Prime Minister Imran Khan on Tuesday urged the housing ministry to ensure timely completion of the 88,000 housing units for the government employees so they could live under their own shelter.

“Also ensure timely completion of other projects so that my dream for people easily having their own homes. And the government will help them and our ministries should also provide facilities to their employees in this regard,” he said while addressing the inaugural ceremony of the PHA Officers Residencia in Islamabad.

“Shortage of houses is a problem in Pakistan,” the premier said, adding that 0.2% was the rate of house financing in the country whereas it stood at 80-90% in the UK and the US.

He added that it took the government more than two years to bring a low-cost house financing law. PM Imran said the government had meetings with the banks and asked them to train their staff in handling customers from low-class.

“I am happy for the first time in Pakistan’s history, the banks have approved projects worth Rs124b in last 8-9 months and worth Rs40 billion funds have been given to the public,” he said.

The premier was of the view that the housing sector boosted the economy as it supported other sectors.

Officials on January 6 informed a meeting of the National Coordination Committee on Housing, Construction and Development that there was a considerable increase in borrowing from banks for the construction of low-cost houses under the PM's scheme and applications for more than Rs6 billion additional loans were received during the last two weeks.

The meeting presided over by PM Imran on Thursday was informed that on an average, the rate of borrowing from banks is increasing significantly. In the last two weeks alone, additional loan applications of Rs6 billion have been received.

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