PM Imran Khan launches Naya Pakistan Housing Program

[hussain.r97]

ISLAMABAD: Prime Minister Imran Khan has inaugurated New Pakistan Housing Program at a ceremony in Islamabad today.

The inauguration of the project is part of government's election manifesto of constructing five million houses for the shelterless people in its five year tenure.



“One country wants to invest USD20 in the housing industry in Pakistan,” Prime Minister Khan said.

“Inshahullah, we will steer Pakistan out of crises. It’s a difficult time for us but this too will phase soon,” he said.

The prime minister said that he would devise a roadmap to address the challenges being faced by the country.

“The housing scheme is our real scheme. At least 40 industries are directly related with the housing scheme. When we launch the project, all these industries will benefit from it,” he said.

"Our target is to build five million affordable houses in five years. Only ordinary people will benefit from this scheme," Khan said.

"A common man who can never think of owning his house is our target. And our second target is to provide employment opportunities to our jobless youth," he said, adding that 40 industries were directly linked with the housing project.

"We will encourage youth to set up their own construction companies to be part of this initiative," the premier said.

Khan said that skill development program would also be launched to help youth benefit from the project.

The prime minister noted that 80 percent of American population build their homes through loans.

He announced that Naya Pakistan Housing Authority would be set up to provide one-window operation to investors.

"The authority will facilitate the process," he said, adding he would himself supervise the project.

The authority, he said, would be formed in 90 days. In addition, a 17-member task force would be set up to help run it.

The prime minister said that government would only provide land while the rest would be done by private sector.

"We will collect data of katchi abidis from across Pakistan. Nobody has ever thought about katchi abidis. We will first locate katchi abidis and resettle them with all the facilities along with ownership rights," he said.

The prime minister said that a pilot project would be launched in 60 Pakistani districts to register data about the demand for new housing.

The construction, he said, would begin after the completion of registration and evaluating the mortgage capacity of buyers.

National Financial Regulatory Body

"We never had any financing model. We are preparing a new regulatory body to help arrange financing for the houses. The National Financial Regulatory Body will be set up in 60 days."

Legal Framework

The prime minister said that the law ministry was preparing a legal framework to remove hurdles being faced by the construction industry. The framework will be ready in 60 days, he said.

Federal Government Employees Scheme

A new scheme, Prime Minister Khan announced, would be set up to build a housing colony for federal governments. The scheme would kick of on October 11.

"I have also called Punjab Housing Minister to discuss the issue for the province," he said.

"Inshaullah, our step by step process will begin from October 11. Our growth rate will accelerate and youth will get new jobs."

He urged the nation to lift their morale, saying this difficult situation would be addressed soon.

"The reforms we are taking will start taking effect in six months. Pakistan is a rich country. It's a gift of God."

The whole crisis, he noted, was about only USD12 billion.

https://www.thenews.com.pk/latest/379236-pm-inaugurate-naya-pakistan-housing-scheme

 

[hussain.r97]

Imran Khan on Naya Pakistan Housing Programme: 'Most ambitious, landmark'

ISLAMABAD: Prime Minister Imran Khan has termed the newly launched Naya Pakistan Housing Programme as Pakistan Tehreek-e-Insaf's most 'most ambitious and landmark housing policy'.

The prime minister on Wednesday launched PTI’s flagship housing scheme aimed at building five million low-cost and affordable housing units across the country, fulfilling one of the “cornerstones” of his party’s election manifesto.


In a tweet a day after the inauguration, the PM said: “We have launched our most ambitious, landmark housing policy of building 5mn homes in 5 yrs. InshaAllah this will provide affordable houses for our less privileged strata of society, plus 6mn jobs, create demand in 40 industries directly involved in house building & attract FDI.”

Addressing the launching ceremony at the PM Office, the prime minister said that the government would provide the land, facilitate and remove bottlenecks and work under public-private partnership to construct housing units with all basic amenities.

“We want to build houses for those who ordinarily do not even dream of owning a house, as they fall in low-income group and barely manage to find a shelter,” Imran Khan said.

He said the data of federal or provincial lands was being collected and registered by a land bank so that the government could provide land for the housing programme to be undertaken by the private sector.

Vowing to personally supervise the project the Prime Minister announced the setting up of a Naya Pakistan Housing Authority (NPHA) in 90 days. Meanwhile the 17-member Housing Task Force would oversee the housing programme, he added.

The Housing Task Force consist of eight members from private sector, five from federal government including secretaries housing, law and justice, finance, planning, NADRA chairman and five provincial housing ministers, or their nominees.

The NPHA would provide a one-window operation and construct houses in both rural and urban areas, he said and added, the Authority would coordinate with the local bodies and provincial governments.

The prime minister said the data of the ‘kaachi abadis’ (slums) would also be collected. The estimates say that 40% land in Karachi and most precious land in Islamabad was encroached by such illegal housing, he added.

He said after reviewing international models, high rise buildings, having all basic facilities would be constructed and the owners would have full property rights.

He announced the launch of pilot project under Naya Pakistan Housing Programme in seven districts including Faisalabad, Sukkur, Quetta, DI Khan, Islamabad, Gilgit and Muzaffarabad, where NADRA would help collect the basic data of those in need of the housing through registration during the next 60 days.

He said the earlier schemes failed as those did not have the requisite basic data to work upon, adding, the data would help find the requirements, the income level of the people and how much they could pay for the mortgage per month.

Prime Minister Imran Khan announced the launch of first housing scheme under the Naya Pakistan Housing Programme for the federal government employees from Thursday.

The federal government employees from ** 1 to 16 would be eligible for registration in the housing scheme undertaken through joint venture project. Preference would be given to those having no house or were shelterless.

In the construction of housing units under the Naya Pakistan Housing Programme, use of local construction material, labour and technology transfer would be ensured.

The PM expressed the hope that the provinces, particularly Punjab would also emulate the trend set in by the federal government.

Imran Khan said the construction industry was one of the most important sectors of the economy as over 40 other industries were related to it and added it was vital for reviving economic activity and employment generation.

He said a new young entrepreneur class would emerge and the government would ensure provision of necessary skills and training to unemployed youth. For that purpose skill teaching institutes would be established.

The prime minister mentioned the trend for borrowing of house building loans in other countries and said in the United States almost 80% people construct houses through loans, in Malaysia 33%, India 11%, Bangladesh 3%, while in Pakistan only 0.25%.

He said the earlier housing projects failed to take off because the country had no financing packages and that the State Bank of Pakistan had been directed to set up a National Financial Regulatory Body in 60 days time. Necessary legal framework would also be prepared by the Ministry of Law and Justice within the stipulated time, he added.

Under the housing programme, those getting houses would be provided with a 15 to 20 years easy payment plan and the State Bank of Pakistan would encourage the commercial banks for financing.

The prime minister said a foreign company has approached the relevant authorities in Pakistan expressing their desire to invest a huge amount of US 20 billion dollars in the housing programme.

He said the Naya Pakistan Housing Programme would help stimulate economic growth besides creating employment opportunities, reviving the construction-related industries and bring in development and prosperity.

Having a total population of around 210 million, Pakistan had 30 million housing units with a10 million shortfall. Against an annual demand of 700,000 housing units, the country constructs only 250,000 houses with a shortfall of 450,000 houses per annum.

https://www.thenews.com.pk/latest/3...tan-housing-programme-most-ambitious-landmark

 

[hussain.r97]

PM's Naya Pakistan Housing Program gets overwhelming response

ISLAMABAD: A huge demand for registration form for the newly launched Naya Pakistan Housing Program Thursday slowed down website of the National Database and Registration Authority (Nadra), but was restored to normal after it got an overwhelming response from 0.2 million users from 174 countries.

According to Nadra spokesman, the website experienced around 10,000 hits a second, causing it to crash, however it was restored by its IT Staff who did not anticipate the heavy response.

In the first hour, over 62,000 forms were downloaded from the website.

Prime Minister Imran Khan announced launch of the program a day earlier and vowed to meet the housing shortage of the country by building five million houses in five years.

He said the program would not only provide affordable shelter, but also ensure that the residents get all modern basic facilities of life.

The form available on the Nadra website has been designed to collect data from the applicants and seeks their requirement, price range and location of the house and the number of people who were expected to live in the house.

Preference would be given to those who do not have any independent residence in Pakistan and only one person in a family is eligible to apply.

An amount of Rs 250 will be deposited with every form, and a copy is also acceptable.

The forms can be submitted from October 22 to December 21 at the District offices of the housing program at Sukkur, Quetta, Gilgit, Muzaffarabad, Swat, Islamabad and Faisalabad.

The applicants will have to give details of their profession, whether they live currently in joint family, rental, kaachi abadi or some other residence.

They will also have to show their income bracket; less than 20,000, upto 40,000, 60,000 and 100,000. It also asks for preferred monthly installments upto 10,000, 15,000 and 20,000.APP/

https://www.thenews.com.pk/latest/3...an-housing-program-gets-overwhelming-response

 

[hussain.r97]

<blockquote class="twitter-tweet" data-lang="en-gb"><p lang="en" dir="ltr">We have launched our most ambitious, landmark housing policy of building 5mn homes in 5 yrs. InshaAllah this will provide affordable houses for our less privileged strata of society, plus 6mn jobs, create demand in 40 industries directly involved in house building & attract FDI.</p>— Imran Khan (@ImranKhanPTI) <a href="https://twitter.com/ImranKhanPTI/status/1050248198919528448?ref_src=twsrc%5Etfw">11 October 2018</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[Minnowbasher]

Tabdeeli

 

[Syed1]

To give a little prespective to folks who may act smart but aren't really...... a little while back during the oil slump Canada was expected to go into regression because oil is her major export and revenue generator but one thing kept the Canadian economy afloat and even improved growth, and that is the money flooding into the Greater Toronto Area construction business. Condos and houses were/are going up at such a rapid rate that it kept the wheels of the economy turning even during times that were expected to be hard.



We have had many "tajarbakaar" governments before but none seemed to think about this as an engine for growth.


Obviously construction can only generate internal growth and improved jobs prospects but exports have to be improved rapidly as well to reduce pressure on ruppee.

 

[Angrez Pakistani]

As the minister of planning and development and as someone who belongs from South Punjab, it’s weird to see Khusro Bakhtyar not including any city from South Punjab in this housing program. However it is nice to see ppl trying to deliver on their promises.

 

[shaaik]

Egyptian billionaire offers to build 100,000 housing units in Pakistan

KARACHI: Egyptian billionaire Naguib Sawiris has offered to build 100,000 housing units in Pakistan to help realize Prime Minister Imran Khan’s dream of an ‘ambitious’ housing project, officials said on Friday.
“Naguib Sawiris has expressed his will to invest in 100,000 units of affordable housing to help prime minister (Imran Khan) in his vision toward Pakistan,” Tarek Hamdy, Chief Executive officer of Elite Estates — a partnership between Ora Developer and Saif Holding — told Arab News in an exclusive interview.

Owned by Sawiris, Ora Developers is already engaged in the construction of a multibillion-dollar housing scheme named ‘Eighteen’ which was launched in 2017 in Islamabad with local partners, Saif Group and Kohistan Builders.
Sawiris’ first investment in Pakistan was in Mobilink, a cellular operator.

PM Khan in October 2018 had launched ‘Naya’ (New) Pakistan Housing Project in line with his party’s election manifesto, which promised fivr million houses for the poor.
Hamdy says they have “set rules or guidelines of the way of doing things” that apply to every real estate projects — whether they are affordable or high value units.

“We will use our experience and knowhow to deliver this properly to the people of Pakistan,” he added.
Since the announcement of the low-cost housing project for the poor, the scheme has been at the heart of all political and economic discourses with several calling it too ambitious.
“This scheme is very ambitious yet very promising for the people of Pakistan. I think all the developers should help in this scheme. You cannot solely rely on the government to build five million houses,” Hamdy said.
Recently, the governor of Pakistan’s central bank had said that the massive housing project would require financing of upto Rs 17 trillion.

Hamdy believes that the promise of building five million affordable housing units cannot be realized in a short span of time. “I think the plan is right but it has to be in stages, has to be in steps. It could be achievable obviously that is not the project (to be achieved) in one or two years... may take few good years, may be couple of decades to be achieved,” he said.
In the Islamabad project the Ora Developers own a 60 percent stake in the project comprising a five-star hotel, 1,068 housing units, 921 residential apartments, business parks, hospitals, schools and other educational facilities and 13 office buildings, and a golf course. The networth of the project is $2 billion.

The next cities on the radar for real estate projects are Lahore, Karachi, and Faisalabad. “We intend to do more, we intend to invest more. I think that our portfolio of real estate could come to $10 billion worth of investments in the next five to 10 years including all the projects that we intent to do,” Hamdy said.

Pakistan’s housing sector is marred by frauds, scams and unfinished schemes which has been discouraging many potential investors from venturing into the sector. However, Hamdy says he is confident of delivering the promise by 2021.
Analysts say that Pakistan’s housing sector offers great opportunities for investment due to increasing demand. “According to estimates, the current real estate market value is around Rs900 billion which is three times that of the GDP,” Saad Hashmey, an analyst at Topline Securities, told Arab News, adding that the PM’s housing project is the need of the hour.

Pakistan faces a shortage of nearly 12 million housing units that may require a massive investment of around $180 billion, according to the former Chairman of the Association of Builders and Developers, Arif Yousuf Jeewa.

Pakistan expects to attract more than $40 billion foreign direct investment in the next five years in oil refining, petrochemical, mining, renewable energy, and real estate sectors. “We estimate that roughly around $40 billion investment will be made by three countries (Saudi Arabia, the UAE, and China) during the next three to five years,” Pakistan Board of Investment BoI chief, Haroon Sharif had told Arab News earlier, adding that “the investment would start materializing within the next two years”.

http://www.arabnews.pk/node/1437706/pakistan

 

[Abdullah719]

PM Imran announces Rs30bn subsidy for Naya Pakistan Housing Project

Prime Minister Imran Khan on Friday announced a subsidy of Rs30 billion for the Naya Pakistan Housing Project (NPHP), urging the construction industry and investors to "take advantage of the opportunity", as the government tries to mitigate the economic impact of the coronavirus outbreak.

"This means a subsidy of Rs0.3 million will be given on the first 100,000 houses constructed," he said, while addressing the nation after chairing a meeting of the National Coordination Committee on Housing, Construction and Development in Islamabad.

"Further, those people who will borrow from the bank to construct their homes will be given a subsidised interest rate. The interest rate of 5 marla houses will be five per cent and for 10 marla houses it will be seven per cent."

The premier added that the government had also spoken to the State Bank of Pakistan (SBP) and all other banks, and had asked them to set aside five per cent of their portfolio for the construction industry. "This comes to about Rs330 billion."

In addition, "after consulting with all the provinces, we have also decided to reduce NOCs [no objection certificates] and have made a one-window operation in all provinces," Imran said, adding that there will also be a time limit within which approvals would have to be granted by the relevant authority.

He stated that taxes have also been reduced in the provinces. "Also, and this is only because of the pandemic, the source of investment [until December 31] will not be questioned. No one will ask where the funds came from.

"We are offering these incentives because we have spoken to the international community and have relayed that our economy is primarily undocumented [...] so we have until December 31," he said.

He concluded his address by urging investors to take advantage of this short window of opportunity.

At the outset, the premier began his speech by saying that the main objective of NPHP was to provide housing to the common man. "But we faced many obstacles in our journey," he said, citing the lack of foreclosure laws.

"If you look at India, housing financing by banks is 10pc and almost 90pc in Europe. In Pakistan, it is 0.2pc," he said, adding that the first step was to address this problem.

"Then there were delays for the construction industry. They had various taxes, didn't get permission, had troubles with loans."

He maintained that the purpose of the NCC on Housing, Construction and Development was to remove obstacles in the way of the construction industry, adding that the provinces were also taken on board. The premier will himself preside over the committee's meeting every week.

He added that the pandemic had caused a recession across the world, leaving countries scrambling to keep the economic wheel turning. "[Therefore] we have decided to keep the economy running through the housing and construction sector," he said, adding that it will also provide job opportunities.

https://www.dawn.com/news/1568171/p...0bn-subsidy-for-naya-pakistan-housing-project

 

[Abdullah719]

https://www.brecorder.com/news/40004657/naya-pakistan-housing-project-govt-may-face-several-hurdles

Naya Pakistan Housing Project: Govt may face several hurdles

ISLAMABAD: The success of Prime Minister Imran Khan's newly launched Naya Pakistan Housing Project (NPHP) will depend on availability of commercial banks' financing, public demand and one-window operation to simplify the official procedures to facilitate the public, revealed an anecdotal survey carried out by Business Recorder on Saturday.

Talking to Business Recorder, economists, experts and people from different walks of life said that the government conceived the project with 'good intention' but may face several hurdles as far as its implementation is concerned.

Spoiler

On Friday, the PM announced a subsidy of Rs 30 billion for NPHP, urging the construction industry and investors to "take advantage of the opportunity." He further announced that the interest rate of 5 marla houses will be five per cent and for 10 marla houses it will be seven per cent.

Former advisor to Finance Ministry Dr Ashfaq Hassan Khan said the commercial banks might not be interested in financing the project due to low interest rate. "Even if they (banks) set aside 5 per cent of their portfolio for construction industry, which comes to around Rs 330 billion, who will avail this offer at a time when COVID-19 has pushed millions of people below the poverty line and the purchasing power of the public has drastically reduced?" he told Business Recorder.

He said one-window operation experience in Board of Investment (BOI) did not yield great results. "So who will ensure the success of one-window operation in NPHP?" Khan further said that the deadline of December 31 for availing this low-cost housing facility will also create hurdles due to limited time period. "But government has no choice due to the need to comply with FATF (Financial Action Task Force) as source of income will not be asked something that may come under FATF scrutiny."

Ahmad Khan, a school teacher in the federal capital, said he wants to benefit from NPHP but due to his limited resources including a monthly income of hardly Rs 40,000, he cannot afford to avail this facility.

Muhammad Anwar, a shopkeeper in Blue Area, Islamabad, said "To build a house, I need to purchase land first. Neither can I afford to buy land nor the expense to build a house. Where should people like me go?"

On January 14, Senate unanimously passed "The Naya Pakistan Housing and Development Authority Bill, 2019," for the purpose of planning, development, construction and management of real estate development schemes and projects, including housing, and - to pursue philanthropic and other objectives on profit and non-profit basis.

The bill landed in the Senate on December 13 last year, after being passed by the National Assembly on December 10, 2019.

Following its passage from both the houses, President Arif Alvi signed the bill into law.

On March 11, Prime Minister Imran Khan reiterated his resolve to construct five million housing units before the completion of his government's tenure, while laying the foundation stone of 20,000 housing units in Islamabad.

Responding to criticism regarding delay in the construction of these houses which were promised by the PM shortly after the PTI came into power in August 2018, Khan said, "There was criticism everywhere. Everyone was asking where are the new houses? Where is the construction going on and all that? Even in the National Assembly, the lawmakers were asking where is Naya Pakistan? Now, everybody should know. The thing is; it is such a big project and it took us one-and-a-half year to establish the authority (Naya Pakistan Housing and Development Authority), set up a proper structure and complete all the related homework before going ahead with this project."

This is not the first time the government has initiated low-lost housing scheme for the less privileged segments of the society. During the tenure of Pakistan Muslim League Nawaz (PML-N) in power, Shehbaz Sharif, the then Chief Minister of Punjab, launched Ashiana-e-Iqbal Housing Scheme for "medium to low income groups who cannot fulfil their dream of having their own roof over their heads." However, the project was marred by reports of alleged corruption with National Accountability Court (NAB) currently probing the case. On February 17, 2020, an accountability court indicted Shehbaz and others in Ashiana-e-Iqbal Housing Scheme.

 

[finalfantasy7]

as the first post was in October 2018- just asking if any houses have actually been made or in the process?

 

[finalfantasy7]

can anyone provide me with the above answer?, im just curious

 

[Last Monetarist]

https://www.dawn.com/news/1613205/pm-imran-inaugurates-balloting-of-housing-scheme-for-labourers-in-islamabad

Prime Minister Imran Khan on Thursday inaugurated the balloting ceremony of a housing scheme for labourers in the capital, terming it a "first in the history of Pakistan".

According to the Prime Minister's Office (PMO), 1,008 flats and 500 houses will be allotted in the first phase.

Talking to reporters after the inauguration ceremony, the prime minister said people would soon begin to see the progress on the government's housing initiatives.

"You will all see the impact of it from this year because of the level of construction which is happening. You will yourself see the level of economic activity that will be generated in Pakistan and people will get livelihoods and there will be wealth creation."

Prime Minister Imran said no government in the world could build houses for everyone but what it could do instead was to facilitate and provide opportunities to people so they could "easily" build or purchase their own houses.

Turning to his government's efforts in this regard, the premier said his government had "for the first time" in the country's history approached banks and offered them incentives to set aside Rs380 billion for housing finance.

"All private banks put aside this amount which the SBP (State Bank of Pakistan) is monitoring. The government is giving a subsidy of Rs300,000 for up to 100,000 houses. For example, if a house is worth Rs2.1 million and you get a subsidy of Rs300,000 on that, it [costs] Rs18m. This means the instalments to be paid monthly are further reduced.

"This makes it easier for the common man. What he pays in rent can [now] be paid in instalments and he gets to own the house as well," he elaborated.

The foreclosure law that took two years to pass had made it easier for banks to offer housing loans, the premier recalled. "You will hopefully see the housing industry rise."

When asked about the delay in the completion of the project, he replied that the land had been purchased 25 years ago by the Workers' Welfare Fund (WWF) which he said was a "mass of corruption".

"The government had decided that this should be done, so it revived a 25-year-old scheme. A whole society was built in front of you in 2.5 years."

Talking about cooperation from the provinces, PM Imran said he could not comment on Sindh because "we do not get any response from them". However, he added that work was being carried out "very rapidly" in Punjab, Khyber Pakhtunkhwa, and Balochistan.

Listing out the government's projects, the premier mentioned Bundal Island, Ravi Riverfront Urban Development Project, and Lahore's Central Business District which he termed as a "completely modern project".

He said that even if the Bundal Island project could not be completed, the Ravi Riverfront Project, Naya Pakistan Housing Project, and the Central Business District would lead to the construction of five million houses.

Houses were also being built for hawkers, the premier said. "We are working together with the NGO (non-governmental organisation) Akhuwat and have created 7,800 homes for the [lowest-income] segment."

Talking about steps to facilitate overseas Pakistanis who wished to invest in the construction industry, Prime Minister Imran said the government had declared a "jihad (holy war)" against land mafia.

"Land mafias and qabza groups (occupation forces) in all the cities are big and powerful people with connections to politicians. They were so powerful that neither did the police say anything to them nor did anyone have the strength to go to courts and get the encroachments removed.

"That jihad has been started and I think the Punjab government has recovered land worth more than Rs200bn from qabza groups."

He added that the government had also established special courts for overseas Pakistanis which would fast-track their cases.

When asked whether the PTI government would be able to complete the targets it had set by 2023, the prime minister said that people would "start to see things [happening] in front of you now that half of our tenure has passed".

This would include two big dams, he said. However, the construction would not be completed till 2023, he said, noting that dams were not built in the past because earlier governments thought of "carrying out work shortly before the elections".

This resulted in a "great injustice to the country" because water reservoirs were not built, he added.

When asked about the government's plan for food security and the environment, the prime minister said he would launch a new food security plan on April 8 or 10.

He said the PTI government was the first one that was making master plans of cities and once they were made, cities would start expanding vertically. Some of these master plans would be completed by the middle of this year while others would be completed by the end of 2021.

Elaborating on why the master plans for cities were important, the premier said that unless cities were expanded vertically instead of horizontally, there would be concerns about food security and it would be difficult and expensive to provide utilities to people living there.

 

[MenInG]

Prime Minister Imran Khan has broken ground on a new residential building in Islamabad as part of the Naya Pakistan Housing Scheme.

Farash Town Apartments will be completed in two years, he said while addressing the inaugural ceremony on Thursday. "We want to provide subsidised houses to those who can't afford it. Banks are not willing to give loans to poor people."

The project will help us provide houses to 2,000 people who never thought they could afford a house.

We are moving towards automation, he remarked, adding that it will help solve the problems of the people.

The construction is being done by the Frontier Works Organisation. "I have seen the work of FWO and they have left me impressed. They completed the work on the Kartarpur corridor in record time."

Housing loans

On March 26, the government announced that people borrow up to Rs10 million to finance a house of 125 to 250 square yards (5 to 10 marla) or an apartment with a covered area of 2,000 square feet.

The government has doubled the amount people can borrow under the central bank’s markup subsidy for the housing finance scheme. The government has also doubled the limit for smaller houses, 125 square yards or apartments with a covered area of 1,250 square feet, to Rs6 million and removed price caps in both these categories.

It even slashed the markup rate to 3% for housing units that fall in projects approved by the Naya Pakistan Housing Development Authority, making it the most affordable among all categories.

Pakistan allots houses to 1,500 labourers, widows

On March 18, the PM inaugurated Labour Colony Phase-I and Phase-II in Islamabad on Thursday. The government allotted houses to 1,518 labourers and widows under the scheme.

People earning less than Rs500,000 were given ownership rights of these homes. Around 3,000 individuals registered themselves under the Workers Welfare Fund. Of them, 1,500 were handed over these houses and flats through a draw.

The project spreads over 2,560 acres of land and comprises 1,008 apartments and 500 houses. This project was launched before but was abandoned due to a lack of funds. The government collaborated with the Workers Welfare Fund and completed the project under the Naya Pakistan Housing Programme.

https://www.samaa.tv/news/2021/04/n...eaks-ground-on-islamabad-residential-complex/

 

[Bewal Express]

Prime Minister Imran Khan has broken ground on a new residential building in Islamabad as part of the Naya Pakistan Housing Scheme.

Farash Town Apartments will be completed in two years, he said while addressing the inaugural ceremony on Thursday. "We want to provide subsidised houses to those who can't afford it. Banks are not willing to give loans to poor people."

The project will help us provide houses to 2,000 people who never thought they could afford a house.

We are moving towards automation, he remarked, adding that it will help solve the problems of the people.

The construction is being done by the Frontier Works Organisation. "I have seen the work of FWO and they have left me impressed. They completed the work on the Kartarpur corridor in record time."

Housing loans

On March 26, the government announced that people borrow up to Rs10 million to finance a house of 125 to 250 square yards (5 to 10 marla) or an apartment with a covered area of 2,000 square feet.

The government has doubled the amount people can borrow under the central bank’s markup subsidy for the housing finance scheme. The government has also doubled the limit for smaller houses, 125 square yards or apartments with a covered area of 1,250 square feet, to Rs6 million and removed price caps in both these categories.

It even slashed the markup rate to 3% for housing units that fall in projects approved by the Naya Pakistan Housing Development Authority, making it the most affordable among all categories.

Pakistan allots houses to 1,500 labourers, widows

On March 18, the PM inaugurated Labour Colony Phase-I and Phase-II in Islamabad on Thursday. The government allotted houses to 1,518 labourers and widows under the scheme.

People earning less than Rs500,000 were given ownership rights of these homes. Around 3,000 individuals registered themselves under the Workers Welfare Fund. Of them, 1,500 were handed over these houses and flats through a draw.

The project spreads over 2,560 acres of land and comprises 1,008 apartments and 500 houses. This project was launched before but was abandoned due to a lack of funds. The government collaborated with the Workers Welfare Fund and completed the project under the Naya Pakistan Housing Programme.

https://www.samaa.tv/news/2021/04/n...eaks-ground-on-islamabad-residential-complex/

Great job, hopefully its the start of providing finance to poor people to buy their own house and it also doesnt fall foul to corruption.

 

[Last Monetarist]

https://tribune.com.pk/story/2295947/pm-inaugurates-housing-scheme-for-underprivileged-in-nowshera

Prime Minister Imran Khan inaugurated another housing scheme for the underprivileged in the Nowshera district of Khyber-Pakhtunkhwa on Wednesday.

"The underprivileged and labourers deserve to have their homes and it is the government's responsibility to provide that," the premier said while addressing the foundation-stone laying ceremony of the Jalozai apartments project.

The project is part of the government's Naya Pakistan Housing Scheme, aimed at facilitating low-wage earners to own properties.

"We are providing a subsidy of Rs300,000 on each of the houses while the buyer would pay easy mortgage installments to get ownership rights," the premier said, adding that the scheme will be expanded to other parts of the province. He further said that societies that don't uplift their weak do not prosper. "Also, supremacy of law ensures that the powerful are within the ambit of the law," he added. But in Pakistan, the PM added, powerful elements form alliances such as the PDM to escape the law. Law, he maintained, should be the same for the weak and the powerful.

The premier reiterated that the health card system will bring a revolution in the health sector.

Later, PM inaugurated projects for the restoration of Peshawar-Dara Adamkhel road and rehabilitation and expansion of Chitral-Boni-Mastooj-Shindour road.

Addressing a ceremony in Peshawar on the occasion, premier said that a prosperous state easily finds the capacity and financial resources for the restoration of its road networks. "Our northern areas can become the centre-point for tourism and connectivity," he said and added that the revival of the areas will bring a tourism revolution in the country.

"If we can build resorts here, we can attract the tourists to invest and so, benefit the exchequer. These steps will usher the areas into an era of prosperity."

PM also stressed the need to introduce bylaws for foreigners in specific areas to protect them, and called for safeguarding the trees.

On April 9, the PM performed the ground-breaking ceremony of a 35,000-apartment affordable housing project in Lahore.

Similarly, a day before that, he laid the foundation stone of a housing scheme in Islamabad, saying 2,000 people will be able to own houses under the project.

Last month, the premier inaugurated a labourers' complex in the federal capital as part of the scheme.

"This is a major achievement," the premier had said while addressing a ceremony held for the allotment of 1,500 houses.

 

[MenInG]

'Our aim is to make a common man's life easier' : PM Imran Khan

Prime Minister Imran Khan said Thursday the PTI-led government's aim is to make the life of a common Pakistani easier.

PM Imran Khan, speaking at a Kamyab Jawan Programme event in Islamabad, said banks were the engine of growth for the economy. "When you give soft loans to the people, it gives a boost to the economy."

The government is all set to offer soft loans to fishermen under the Youth Entrepreneurship Scheme (YES) of the Kamyab Jawan Programme for boosting the fisheries sector, The News had reported.

The Ministry of Maritime Affairs has signed a Memorandum of Understanding with multiple banks including the National Bank of Pakistan and Bank of Punjab.

Through the loans to the fisherman, they will be able to upgrade their existing equipment and purchase modern equipment — adding value to their profession.

This will enable the fishermen to get concessionary loans under the YES, an official source privy to the development told APP a day earlier.

The YES was launched in October 2019 under the banner of the Kamyab Jawan Programme to provide the youth soft loans for the initiation of their businesses.

Recently, the government has enhanced the scope of YES which was meant to offer a huge amount of concessionary loans ranging between Rs100,000 and Rs25 million to the youth.

Earlier, it was limited to Rs5 million only. According to the State Bank of Pakistan, under the YES, financing was segregated into three tiers.

Under tier-1, the loan limit is from Rs100,000 up to Rs1 million, whereas tier-2 s loan limit is from above Rs1 million and up to Rs10 million, and under tier-3, the loan limit is from above Rs10 million and up to Rs25 million.

For tier-1 loans, the mark-up rate is 3%, while the mark-up rate for tier-2 loans is 4%, and for tier-3, the mark-up rate is 5%.

Meanwhile, the premier, further addressing the event said the banks' administration should train their staff to provide small loans to their customers.

The prime minister said he had received complaints that banks were slow in processing the Kamyab Jawan loans. "I urge the banks to focus on and expedite the process."

The premier, speaking on the climate front, said cities were expanding, and the agricultural lands were shrinking — and at the pace that the population is growing, the government would not be able to tackle the pollution problem.

Separately, in a statement, PTI leader Usman Dar had said the program was aimed at taking forward the fisheries sector, adding loans would be provided to the fishermen on easy installments.

Dar lamenting the fisheries sector was neglected by the previous governments, said the incumbent government's program is an important step towards making the fishermen an important stakeholder of blue economy.

GEO

 

[Major]

Ok and hows that going?

A person who owns a career which is 1000CC or less, is being forced to pay 20-30K tax which is life time.

In the past, road tokens were paid on yearly basis. Now every car owner of a 1000CC is being forced to have a large amount of money available to pay.

Meanwhile if you car is above 1000CC you still pay yearly which is 2-3K and dont have to pay the life time payment.

Ok forget that,
Someones father dies, he can't get the bank accounts or properties, he has to file for varasatnama through court. A Varasatnama for properties ends up taking 7-12 months. Even goin up to an year.

Ok also forget that,
A person dies, you have to get 3 death certificates made. One Hospital, One Nadra and One through Union Council.
Now the Union Council Death certificate has a rule that you have to get it made within 60 days of death. If not, than you have to file case through lawyer.
What kind of stupid law is that?

Infact, you could pay some Rishwat, and get the Union Council Death certificate in 7 days even if the person has died 6 years ago.

So Mr. Prime Minister, you have not made anyone life easier. Hoping to see you get removed.

 

[finalfantasy7]

so how many houses have been built ?