Imran Khan distributes cheques of interest-free loan for low-cost houses
Prime Minister Imran Khan on Tuesday 04 March as his government’s mission to construct homes for the people in the low-income group and make hefty allocations to health, education, justice and housing sectors.
Addressing a ceremony held in connection with the distribution of cheques of interest-free loan among the applicants, who desired to construct their houses under the government’s low-cost housing scheme, Imran said it was the duty of the government to support vulnerable segments of society.
Under the scheme, Rs5 billion interest-free loans will be disbursed through the Akhuwat Microfinance among the applicants, having their own plots. The loan will be utilised to construct new houses, additional rooms, renovation and up-gradation with a loan of up to Rs1 million.
“It is the responsibility of the government to provide facilities to its people. That was the model of the State of Madina, where the concept of Zakat was introduced to support downtrodden people of society,” the prime minister said.
“Unfortunately, such kind of system was not introduced in Pakistan, where the elites were enjoying all things, while there was nothing for the poor and common man,” he added.
“Helping poor people and realising their pains is an investment for the hereafter.”
Due to a lack of foreclosure laws, the prime minister said, the rate of constructing houses on mortgage was very low in Pakistan. “In Pakistan it accounted for less than 0.25% as compared to 10% in India, 30% in Malaysia and 80% in European countries and the United Kingdom,” he said.
He hoped that after a court decision, the process would be accelerated. He said it was the top-most priority of the government to create resources and job opportunities for the people, particularly the poor segments of the society.
The construction of 5 million housing units will provide job opportunities to millions of people besides boosting 40 other industries, which are directly linked with housing sector,” the prime minister told the audience.
“The amount received from the Blue Area multi-billion rupees commercial project will be spent on providing housing units and flats to people of slums.”
The prime minister directed the housing ministry to expedite the pace of work on low-cost housing scheme. He said 2019 was the year of stabilisation, while 2020 would be the year of providing employments and increase in growth rate.
Housing and Works Minister Tariq Bashir Cheema Dr Amjad Saqib of the Akhuwat Microfinance also spoke on the occasion. They said the Prime Minister’s Housing Scheme would not only provide roof over the head of people but also provide create job opportunities