PM performs groundbreaking ceremony of 2000 low-cost apartments

Addressing the ceremony, the Prime Minister said the project envisages the construction of two thousand flats is aimed at providing shelter to the underprivileged segments of the society including workers and laborers.

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

Addressing the ceremony afterward, the Prime Minister stated that the residential project will provide houses to 2,000 people who are unable to afford a house. “We are moving towards automation and it will help solve the problems of the people.

He said he will soon perform groundbreaking of the peri-urban housing society for the farmers.

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

Read More: LDA to build 4000 apartments under Naya Pakistan Housing scheme

The premier pointed out that the construction is being done by the Frontier Works Organisation. “I have seen the work of FWO and it is impressive. They completed the work on the Kartarpur corridor in record time,” Imran mentioned.

He said the mortgage facility has been introduced to allow people to get loans on easy installments so that they could construct their own houses.  He said negotiations are underway with the banks to remove any and all restrictions in getting the loans.

PM said he regretted that the economy was mismanaged in the past, adding that said such loans were taken in the past which instead of wealth creation further increased the burden of loans upon the borrowers.

Earlier this week, the Capital Development Authority (CDA) took possession of 50 acres in Farash Town where the federal government is will construct the low-cost apartments.

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 the 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 the thirty industries related to the construction sector.

Imran Khan expressed happiness over increased activity in the construction industry. He pointed out that the cement sale remained at a record level last year while growth has also been witnessed in the tax collection which indicates the business activity has increased in the country.

Imran Khan said the textile industry for the first time ever is witnessing a record boom.  He said the small and medium enterprises will also be uplifted to increase their share in the economy.

Read More: Is the promise of Naya Pakistan Housing still standing?

Imran Khan also talked about the plan for the upgradation of the Karachi-Peshawar rail network, and a new railway line is to be established to connect Pakistan with the Central Asian States.