ISLAMABAD: Prime Minister Imran Khan has said that the government will facilitate the construction sector to help provide housing facility to the people.
Addressing a ceremony here on Wednesday after groundbreaking of construction of 20,000 housing units in seven projects, the Prime Minister said the construction of houses will be undertaken by private sector and the government will provide it full facilitation in this task.
The Prime Minister said that it is ‘just a beginning.’ He vowed to construct five million houses in five years. He said that the salaried persons cannot build their own houses but the project will enable them to get their own homes.
He said that under the seven housing project, 20,000 housing units will be constructed at the cost of Rs100 billion.
The Prime Minister said that these projects would not only provide residential facilities to those people who do not own any but also boost the construction sector in the country and will create job opportunities.
Appreciating the decision of Lahore High Court on foreclosure laws, he said this step will revolutionize the housing sector in Pakistan.
He said in Pakistan the housing financing is 0.2 percent, which is very low compared to many regional and international countries.
The Prime Minister said he realizes the interest rate is quite high but it was necessary to contain inflation and deficits.
However, the financial situation has improved in recent months and it will now be easier for people to construct homes after taking loans from banks.
Imran Khan said the government is taking steps to facilitate the construction sector by removing bottlenecks and impediments in their way.
The Prime Minister said the Naya Pakistan Housing Authority will not only provide housing facility to federal employees, but will also give strength to forty industries allied with the construction sector, and creating employment opportunities for youth. Defending the vertical housing concept, the Prime Minister said new master plans of the cities will cater to the availability of green areas and land for farming and other activities.
The Prime Minister said the proceeds obtained from launching of Blue Area in Islamabad and two other commercial projects in other cities will be used to accommodate people of slums and shanty areas, so that they get a decent living in vertical housing units.
He said a uniform syllabus will be introduced in the country’s schools by next year, in order to remove different cultures in the country.
Meanwhile, talking to management committee of Overseas Investors Chamber of Commerce and Industry here on Wednesday Prime Minister Imran Khan has expressed the government’s resolve to provide all-out facilities to business community.
He said this while. The meeting was also attended by Adviser on Finance and Revenue Abdul Hafeez Shaikh, Adviser on Commerce and Industry Abdul Razak Dawood, Governor State Bank of Pakistan (SBP) Reza Baqir and others.
The Prime Minister said the incumbent government wants to devise policies in consultation with business community and wants their continuation and implementation in letter and spirit.
Imran Khan said the government is striving to ensure a secure environment for the business community so that they get full benefit of the available opportunities in Pakistan to spur the economic activities.
He directed the advisor on commerce to review the proposals of OICCI so that the problems identified by the companies associated with the chamber could be resolved on urgent basis.
President Overseas Investors Chamber of Commerce and Industry Shahzad Dada apprised the Prime Minister that chamber comprises two hundred companies in thirty five countries that are working in different business sectors. He said the OICCI companies are exporting goods worth over 600 million dollars and the figure could be increased to two billion dollars.
The delegation applauded the government’s initiative for bringing improvement in the economy.
The OICCI managing committee also gave its suggestions for improvement in the economy.
During the meeting, the adviser highlighted the government policies and measures aimed at facilitating the business and investment climate in the country with a focus on the ease of doing business which had been acknowledged by the World Bank as well.
He said that the government would take all possible measures to facilitate the businesses and provide them with a level-playing field as the government believes in investment and export-led growth. – TLTP