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PM performs groundbreaking of Farash Town apartments in Islamabad

ISLAMABAD: Prime Minister Imran Khan performed the groundbreaking of Farash Town apartments in Islamabad on Thursday under Naya Pakistan Housing program.

Later addressing the ceremony, the prime minister said the project envisaging construction of 2,000 flats is aimed at providing shelter to the underprivileged segments of the society including workers and labourers.  He announced to soon perform groundbreaking of peri-urban housing society for the farmers.

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

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.

The prime minister regretted that the economy was mismanaged in the past. He said such loans were taken in the past which instead of wealth creation further increased the burden of loans.

PM Imran Khan 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 was confident 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 while growth has also been witnessed in the tax collection which indicates the business activity has increased in the country.

The prime minister said the country’s textile industry is witnessing a record boom for the first time.  He said the small and medium enterprises will also be uplifted to increase their share in the economy.

PM Imran Khan said they have envisaged upgradation of railway line from Karachi to Peshawar. He said negotiations are also continuing to extend train service to Central Asian States to promote regional trade.