In another landmark decision, Imran Khan has announced that concealing property will now be a criminal offense in Pakistan. The decision was taken in Federal Cabinet’s meeting.
Keeping your land and property hidden is a common phenomenon in Pakistan and the premier is wary of the situation, saying:
Over recent months, we have retrieved occupied land worth Rs500 billion just in Islamabad. People have become billionaires by occupying lands and hiding properties. Till today, property and holdings are being hidden from the government.
PM Khan made the announcement in the International Housing Conference held in Islamabad on Thursday. The conference revolved around the PTI government’s ambitious plan of 5 million low-cost homes in Pakistan.
The prime minister urged the private sector to actively take part in the initiative as it will boost 40 related industries as well which will help the country’s struggling economy.
We want the private sector to participate and want young entrepreneurs to contribute. Chinese and Malaysian companies have expressed interest in housing projects here, while the response from overseas Pakistanis has also been positive.
Work on the housing scheme is expected to start in April this year and the government has also partnered with the World Bank for the housing projects.
Khan also talked about his government’s plans to regularize and uplift slums based on the models of Turkey and India. He also informed the audience that the government is working on vertical construction growth following the footprints of Singapore.