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Saturday, January 28, 2023
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PM Imran Khan performs groundbreaking of affordable housing program

Groundbreaking of PM Affordable Housing Program was done by PM Imran Khan today at Raiwind site, Lahore. CM and Chief Secretary Punjab, journalists, Government Officials, Provincial Ministers, officials from FWO, NLC, and NAPHDA attended the event. PM was briefed on the technical aspects of the project by DG FWO.

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Groundbreaking of PM Affordable Housing Program was done by PM Imran Khan today at Raiwind site, Lahore. Simultaneously, virtual groundbreaking was performed at 9 other sites in Punjab by local politicians/ notables.

CM and Chief Secretary Punjab, journalists, Government Officials, Provincial Ministers, officials from FWO, NLC, and NAPHDA attended the event. PM Imran Khan was briefed on the technical aspects of the project by DG FWO.

Read more: PM Khan directs SBP and NBP to relax housing loan conditions

PM Affordable Housing Program envisages the construction of 3.5 Marla houses for low-income individuals/ families through mortgage financing coupled with government subsidy. FWO has currently been assigned work at 5 sites in different districts of Punjab. The houses, along with necessary infrastructure, are planned to be constructed in one year’s time.

The Punjab Peri-Urban Low-Cost Housing Scheme, being jointly executed by the Punjab government and the Naya Pakistan Housing and Development Authority (NAPHDA), has been designed for the low-income people living in smaller cities and towns.

The Punjab Board of Revenue will provide land at an extremely low price for the project and it has already offered 133 sites in 35 districts of the province for the construction of small residential colonies, comprising 100 to 500 housing units.

Read more: LDA City Naya Pakistan housing inaugurated, people can now own houses

n the first phase, the Punjab government is providing land for the designated sites and funds for the development of infrastructure.

The federal government is providing subsidies for each housing unit and is also arranging mortgages in line with the prime minister’s mark-up subsidy scheme.

The Frontier Works Organization (FWO) and National Logistic Cell (NLC) will develop these sites and construct small housing units measuring 3.5 Marla.

These sites can further be extended to incorporate 4,000 additional houses.

Being an extendable project, the Housing Scheme can be expanded to all the 143 tehsils of Punjab in a phased manner at some later stage.