Tuesday , March 31 2020

PTI government to follow European mortgage model for Housing Programme

‘Naya’ Pakistan Housing Project

LAHORE – Punjab Senior Minister Abdul Aleem Khan on Sunday said that work on permission for construction of multi-story buildings would also be started, whereas a mortgage policy on the patterns of Europe and America would also be implemented for house building finance, he added.

He called upon private sector to play a role in the construction of five million low-cost houses under the Prime Minister’s Programme. He said that Prime Minister Imran Khan was determined to provide housing units to the poor people and for the purpose, concrete planning was being devised, he added. The minister expressed these views while talking to the Members of the Association of Builders and Developers of Pakistan (ABAD), who called on him here.

Abdul Aleem Khan said that such huge number of houses would be built at the same time for the first time in the history, adding that a lot of work has to be done in the housing and construction sector.

The work has already been started on the establishment of new by-laws which would support and secure the private investors, he maintained. The minister said that work on permission for construction of multi-story buildings would also be started, whereas a mortgage policy on the patterns of Europe and America would also be implemented for house building finance, he added.

He asked the ABAD members to come forward and share their experiences with the government to resolve the issues of housing sector. Abdul Aleem Khan said that people have great expectations of Prime Minister’s Housing Programme, and that was why all efforts were being ensured to make the scheme a success.

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