ISLAMABAD: Construction of low-cost housing units has started in the federal capital, keeping in line with the Prime Minister Imran Khan’s vision of providing affordable housing schemes for the less privileged population of the country.
Once completed, the housing units will be handed over to successful applicants on easy terms and conditions as well as affordable rates.
Arrangements have been made by the government to help the applicants with financing by taking some non-profit organisations on board. These NGOs have already initiated the loan-lending process, with Rs7.35million having been disbursed as the first tranche among 31 aspirants.
The federal government has also enlisted the State Bank of Pakistan as collaborators for formulating laws for banks to offer flexible housing loans to the low-income group.
The Naya Pakistan Housing Programme is a flagship project of the incumbent Pakistan Tehreek-e-Insaf government, and is aimed at resolving the housing crisis which is currently facing a shortfall of more than 10 million.
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