ISLAMABAD: Prime Minister (PM) Imran Khan has allotted 1,008 flats and 500 houses for poor workers and widows on low-cost mortgages in a bid to uplift the weaker segments of society.
The prime minister performed the balloting at the site of affordable residences constructed in the suburbs of Islamabad on Thursday, under the Naya Pakistan Housing Project (NPHP) carried out by Workers Welfare Fund and Overseas Pakistanis and Human Resource Development.
In the next phase, 1504 more units will be constructed, while the project will be expanded to other parts of the country as well.
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Speaking on the occasion, the prime minister said that the project was in line with the vision of facilitating the lower class which faced hardship in owning a house, particularly in urban areas.
“Naya Pakistan is, in fact, a vision of empowering weaker segments of the society through economic emancipation and provision of basic necessities of life,” he said.
The prime minister said the rent paid would be converted into instalments of the total cost of the house or flat under the mortgage system whereas the government would give Rs0.3 million subsidy on each house, in addition to ensuring that the markup rate does not exceed five per cent.
He assured to allocate more funds for the housing programme with the increase in the revenue of the government so that the working and the salaried class could build their houses.
The PM said that the boom in the construction industry, due to incentives given by the present government, will not only lead to wealth creation but also provide job opportunities to the youth.
Constructed in Zone V of the federal capital and around 15 minutes drive from the Islamabad Expressway, the multi-storey units will provide a decent living for small families with electricity, natural gas and water supply. Each housing unit comes with a living room, two bedrooms a kitchen and a bath.
The Labour Complex, once completed, will straddle over an area of 2,560 kanals of prime land huddled between the posh Naval Anchorage and Gulberg Greens.
Imran Khan acknowledged that without the support of banks, the project could not be accomplished. “The passage of new foreclosure law for banks took two years to get approval by the courts,” he added.
On the occasion, Special Assistant to Prime Minister (SAPM) for Overseas Pakistanis, Syed Zulfikar Bukhari, said the keys of the houses and flats would be handed over at a payment of 10pc of the total cost, while 90pc of the rest could be paid in instalments over a period of 20 years.
It is pertinent to mention here that around 3,000 labourers had got themselves registered, while 1,500 of them were able to obtain housing on the basis of an open ballot, in the first phase.
Under the project, disabled persons will also be provided with housing units.
The project aims at providing accommodation to people with an annual income of less than Rs500,000.