ISLAMABAD, APR 14 (DNA) – Prime Minister Imran Khan performed on Wednesday the groundbreaking of a low-cost housing project under the government’s ambitious Naya Pakistan Housing Programme in Sargodha.

Chief Minister Sardar Usman Buzdar was also present on the occasion. The prime minister was given a briefing on the project. Addressing the foundation laying ceremony, Prime Minister Khan said the common man cannot even think of owning a house due to lack of resources.

“We have launched this scheme for the poor and labourers,” he pointed out. “The aim of the project is to enable middle and lower-income groups to buy their own houses,” he said. “Mortgage financing in Pakistan is targeted towards people from rural and semi-urban areas.”

Under the new project, people can buy their own house on monthly installments of Rs10,000 which will last 10 years. “We have been late to this,” he pointed out. “A lack of housing has led to an increase in shantytowns across the country.”

“Small cities are being built along with large cities in Punjab,” the prime minister said. “The have-nots will be able to realise their dream of owning a house with this project. They can get a house by paying  a Rs10,000 monthly installment in ten years.”

“If the banks play their role properly, the scheme can usher in an economic revolution because along with the construction sector, numerous other industries are involved in the scheme.”

Under this scheme, a total of 1,175 houses of three marla will be constructed at six locations in Sargodha district. The Punjab government will provide land as well as other facilities for this project.

The construction work will be carried out by Frontier Works Organization (FWO). The mortgage facility will be provided by Punjab Bank which will enable the deserving people to pay the total amount of a house through easy installments.

33,528 applications have been received for this housing project and the houses will be allotted through balloting. Earlier in a tweet, Information Minister Chaudhry Fawad Hussain said the promise of constructing five million houses is now transforming into a reality. He pointed out that the cement sale is currently at record level. = DNA

=======================