Prime Minister Imran Khan performed the groundbreaking of Farash Town apartments in Islamabad today under the Naya Pakistan Housing program.
Later 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.
He said he would 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 sanitation and sewerage. He said the slum dwellers would be given houses on proprietary rights.
He said the mortgage facility has been introduced to provide loans to the people in easy installments so that they could construct the houses. He said negotiations are continuing with the banks to remove any impediments.
The Prime Minister regretted that the economy was mismanaged in the past. He said such loans were taken in the past which instead of wealth creation further increased the burden of loans.
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, while negotiations are being held with the Sindh government to develop the Bundal Island.
The PM was confident that these projects would attract massive investments. He said that the projects to be executed under Naya Pakistan Housing Program would also uplift the thirty industries allied with the construction sector.
Imran Khan expressed satisfaction 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 it is the first time that the country’s textile industry is witnessing a record boom. He said the small and medium enterprises would also be uplifted to increase their share in the economy.
Imran Khan said we envisaged up-gradation of the railway line from Karachi to Peshawar. He said negotiations are also continuing to take the train service to the Central Asian States to promote regional trade.