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PM to perform groundbreaking of low-cost apartments in Lahore today

ISLAMABAD: Prime Minister Imran Khan will arrive in Lahore on a one-day visit on Friday where he will perform the groundbreaking of another low-cost housing scheme.

The prime minister will perform groundbreaking of LDA City Naya Pakistan Apartments in Lahore under Naya Pakistan Housing program. Around 35,024 apartments will be constructed under the project being initiated by Lahore Development Authority in collaboration with Naya Pakistan Housing and Development Authority.

A day earlier, the prime minister laid the foundation stone of 4,000 low-cost apartments being built at Farash Town near Islamabad.

Speaking on the occasion, he prime minister said the project envisaging construction of 2,000 flats is aimed at providing shelter to the underprivileged segments of the society.

The prime minister said a plan has also been prepared to convert slums and equip them with the modern facilities. He said the slum dwellers will be given houses on proprietary rights.

READ MORE: PM performs groundbreaking of Farash Town apartments in Islamabad

PM Imran Khan said the mortgage facility has been introduced to provide loans to the people on easy installments so that they could construct the houses. He said negotiations are continuing with banks to remove any impediments.

He said the government is focusing on wealth creation projects to retire the country’s debt. He said these include Ravi City and Central Business District in Lahore whilst negotiations are being held with the Sindh government to develop Bundal Island.

He expressed confidence that these projects will attract massive investments. He said the projects to be executed under Naya Pakistan Housing Program will also uplift 30 industries allied with the construction sector.

PM Imran Khan expressed satisfaction over increased activity in the construction industry. He pointed out that the cement sale remained at record level last year.