ISLAMABAD: Prime Minister Imran Khan announced on Thursday that about 70,000 housing projects worth 1.4 trillion rupees have been authorized, generating a total economic effect of 7.3 trillion rupees and 1.2 million employment in the construction industry.
He was in Islamabad today, having a discussion of the National Coordination Committee (NCC) on Housing, Construction, and Development.
According to Radio Pakistan, Prime Minister Imran Khan stated it is the federal government’s “great success” that 35,420 out of 80,000 applications have been granted and that a total of 46 billion rupees has been given to 13,407 applicants.
He claimed that the government’s efforts to assist low-cost housing and the construction sector had resulted in a 148% growth in housing financing over the previous three years and a projected approval of 517 billion rupees by December this year.
The premier stated that the government intends to increase housing finance by 1% per year.
The gathering was informed that 161,924 housing units had been sanctioned since 2018, with 45,191 under construction and 20,898 finished.
PM Khan emphasized the need of completing projects on schedule and taking measures to enhance and simplify the procedure for low-cost housing developments.