Govt housing initiative will lead to economic recovery: Shibli Faraz

ISLAMABAD: Minister for Information and Broadcasting Senator Shibli Faraz has that first time ever massive construction project ‘Naya Pakistan Housing initiative’ would not only provide affordable housing but also kick start economy and create job opportunities.

On a social media website Twitter today,  Shibli Faraz said the mega construction project launched by the PTI government would provide affordable housing facilities to the people and also facilitate the construction industry through different incentives.

First time ever a massive construction project , Naya Pakistan Housing initiative,unleashed by the government to enable affordable housing & facilitate construction industry through different incentives.This initiative will also kickstart economy & create jobs.

— Senator Shibli Faraz (@shiblifaraz) July 26, 2020

In April 2019, Prime Minister Imran Khan had launched the federal government’s Naya Pakistan Housing Scheme, vowing to help the country’s long-neglected stratum move from ‘katchi abadis’ into swiftly constructed flats and high-rises.

The scheme was launched at an event held in Islamabad where Housing and Works Minister Tariq Bashir Cheema, Minister Asad Umar and various other government officials were also present.

The prime minister, during his speech, had explained that housing did not feature high on his priority list originally but an incident changed his way of thinking about the industry.

He further said that a revolving fund worth Rs5bn had been approved, adding that the sum would be used to grant up to Rs20bn in loans to aspiring house owners.

One hundred and thirty-five thousand houses will be built in the first phase of what is one of the federal government’s flagship projects.

In the initial phase of the scheme, 110,000 housing units will be constructed in Balochistan for the fishermen of Gwadar, whereas 25,000 units will be built in Islamabad for government employees.