Each house will get a subsidy of Rs 3 lakh for construction under the housing scheme, Imran Khan said
Prime Minister Imran Khan has said that the construction sector in Pakistan has faced many problems; to address these problems has formed a National Coordinating Committee which includes consultation with all provinces.
Speaking after the meeting of the National Coordinating Committee on Construction and Development, Prime Minister Imran Khan said that the world is facing an economic crisis due to the corona virus, which the countries concerned, are adopting different strategies to deal with and we decided. Will the construction sector activate its economic activities?
He said that the problem of economy is not only a problem of Pakistan but of the whole world and activation of construction sector will provide employment to the people and will also help them out of poverty.
Besides, Prime Minister Imran Khan said that he would personally supervise the National Coordinating Committee and it would meet every week.
He clarified that the said committee would review the problems faced by the construction sector as a whole with the New Pakistan Housing Scheme and address them.
He said that "no such thing has happened in Pakistan before so the launch of the New Pakistan Housing Scheme faced extraordinary difficulties".
"We have been given international respite until December 31 due to the corona virus, so the construction industry should understand that this is an important time to take advantage of the concessions provided by the government," he said. After that, it is not going to stick around; we will not be able to give a lot of concessions.
Prime Minister Imran Khan said that the government has given a subsidy of Rs 30 billion for the new housing scheme, i.e. under the housing scheme; the first one lakh houses will be given a subsidy of Rs 3 lakh each.
"Those who take a loan from a bank for the construction of a 5-marla house will have to pay 5 per cent interest, while those who take a loan for a 10-marla house will have to pay 7 per cent interest," he said.
Prime Minister Imran Khan said that the SBP has spoken to all private banks to allocate only 5% of the total portfolio to the construction industry to support the construction sector.
"In this regard, Rs 330 billion will be set aside for the construction industry," he said.
He said that people are facing many difficulties for NOCs, now they will have to take very few NOCs and at the same time said that 'One Window Operation' has been started.
Prime Minister Imran Khan said, "We have introduced a website for people associated with the construction industry where they will have all the facilities available at home."
Prime Minister Imran Khan said that banks in Pakistan lend only 0.2%.
He said that there were many obstacles in the New Pakistan Housing Scheme, most of the banks in the world give loans for houses.
The Prime Minister said that the purpose of the New Pakistan Housing Program is to enable the poor to build houses.
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