Home Global Village Why PM Khan’s 5-million houses project can become a reality?

Why PM Khan’s 5-million houses project can become a reality?


News Analysis |

The Prime Minister Imran Khan’s long-term friend, British-Pakistani entrepreneur Aneel Musarrat would provide advice to the premier on his plans to build five million homes despite not taking up any formal role in the cabinet. Aneel Mussarat has been a regular feature in high-level meetings pertaining to PM’s five million homes project.

On September 3, PM had constituted a committee to suggest recommendations for smooth implementation of the Housing Programme, aimed to build five million housing units for middle and lower income segments in next five years through the private sector. According to the statement from PM house, “the committee will take into account all aspects including the legal framework, availability of land bank and raising of required resources for smooth implementation of the project.”

Pakistan has roughly built 19 million houses in the past 70 years, since its inception. Radical changes are needed to put the economy on track and to ensure economic housing.

The committee held discussions on various international models and road-maps to formulate a comprehensive and coherent plan of action in consultation with relevant experts. In a follow-up meeting in this regard on September 10, PM has directed the committee to finalize its recommendation in net two-weeks, since PM Khan is aiming to launch the program as early as possible.

PM Khan decided to take the ownership of the initiative to ensure smooth implementation and remove any administrative hurdles. In its 100-day agenda, PM Khan had promised to launch the Prime Minister’s Housing programme, to build 5 million housing units for the middle and lower income segments. This project is expected to boost the industry, create jobs and provide shelter to the homeless. According to the plan proposed by Aneel Mussarat, “….six million jobs will be created for five million homes.”

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PM Khan is sticking to its campaign trail slogan and his old-friend Aneel Mussart while speaking to the private media, has confirmed that neither he is willing to pursue any business in Pakistan nor will he take any official position in Khan’s cabinet. Aneel is looking to serve the country of his origin and to avoid the conflict of interest, he is not interested in starting a business in Pakistan.

Since, he is running a successful business in the UK and Europe and is planning to deliver 9,000 homes, worth over £2 billion in the UK. The idea is to use company’s housing development experts to advise Pakistani government. According to his plan, lower and middle-class families would be able to afford new homes on installments/mortgages, and banks would provide them, however, it would require some changes in banking laws.

PM Khan has proved himself a man of his words to implement the ambitious project on a priority basis. Recently, the critics have bashed Khan for pursuing the PM’s role as a philanthropist since big projects like dams are not built with the charity money.

Aneel is hoping that at least 10,000 new developers will enter the market to build 5-million homes. In Pakistan, few powerful individuals are controlling the market—which benefits them at the expense of masses. Pakistan has roughly built 19 million houses in the past 70 years, since its inception. Radical changes are needed to put the economy on track and to ensure economic housing.

Responding to the PTI’s 100-day plan, SDPI’s Sajid Amin remarked that even if they decide to implement their plan and make the houses somehow, the cost of the 5 million houses will be out of their reach.  For example, if one house is built at the cost of Rs 2 million, Pakistan will need approximately Rs1,000 trillion. Where will the money, to support this initiative, come from? Moreover, EAC had apparently proposed to cut the development budget to up to Rs700 billion from whopping Rs1, 030 billion proposed under the previous regime.

read more: Imran Khan: The peoples Prime Minister

Nevertheless, PM Khan has proved himself a man of his words to implement the ambitious project on a priority basis. Recently, the critics have bashed Khan for pursuing the PM’s role as a philanthropist since big projects like dams are not built with the charity money. But, he remains defiant and chooses his long-term friend—who was instrumental in extending huge sums to help him build Shaukat Khanum Cancer Hospital (SKCH) and Namal College to assist him in one of the most ambitious projects of his 100-day plan.

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