Building homes for low-income people is the government's mission, says Imran

Prime Minister Imran Khan said on Tuesday that the mission of the current government is to build housing for the low-income strata of society, in addition to allocating significant funds to the health, education, justice and housing.

The Prime Minister addressed a ceremony to distribute interest-free loan checks to applicants who wanted to build their new homes as part of the Prime Minister’s low-cost housing program.

Under this program, five billion rupees of interest-free loans will be disbursed through M / s Akhuwat Microfinance among low-income applicants wishing to have their own plots marla from two to five. The loan will be used to build new homes, additional bedrooms, a kitchen and a bathroom, including renovation and modernization, with a loan amount of up to one million rupees.

Prime Minister said it was the duty of government to support the vulnerable segment of society and that the greatest quality of a civilized society was that it worked for disadvantaged segments of society .

He said as government revenues increase, more funding would be available for housing, education and the provision of justice to the poor.

The Prime Minister appreciated Akhuwat Microfinance for providing interest-free loans to low-income people for house construction. He said it was the responsibility of the government to create the facility and facilities for its residents and that it was the model for the state of Madina, where the concept of Zakat was introduced to support abused people in society.

Unfortunately, this type of system was not introduced in Pakistan, where the elites enjoyed everything when there was nothing for the poor and the common people, said the Prime Minister. , adding that helping the poor and achieving their pain was an investment for the beyond.

Prime Minister said that due to the absence of foreclosure laws, the rate of mortgage home construction was very low in Pakistan, adding that in Pakistan it was less than 0.25 % versus 10% in India, 30% in Malaysia and 80% in European countries and the United Kingdom.

He expressed the hope that after a court decision, this process would be expedited. He said it was a priority for the government to create resources and employment opportunities for people, especially the poor, adding that the construction of five million housing units would provide employment opportunities for millions of people in addition to stimulating 40 other industries that were directly linked to the housing sector. . He said the government was launching three megaprojects in the country and one of them had been launched in Islamabad, adding that the amount received from the multi-billion blue zone rupee trade project would be spent to provide housing and apartments for slum dwellers. The Prime Minister ordered the Ministry of Housing to work to speed up work on the low-cost housing program. He said 2019 is the year of stabilization while 2020 will be the year of creating jobs and increasing the rate of growth. Minister of Housing and Works Ch. Tariq Bashir Cheema, during his speech on the occasion, said that the ceremony was a step towards the achievement of the Prime Minister’s vision. He said that under the program, five billion rupees would be given to deserving people. He said loans to 2,000 people had already been disbursed transparently. He said that under the program, 14,000 homes would be completed by August 2020. He said that having your own home was a dream for every human being, but that resources and an amount was needed for this, adding that providing loans to low-income people would fulfill their long dream exception. Akhuwat Microfinance's Dr Amjid Saqib said there is a need for nine million homes in Pakistan and that the Prime Minister's housing program would not only provide their own roof over the heads of people, but also would offer employment opportunities.

On the other hand, Prime Minister Imran Khan said that the government is working tirelessly for economic growth and has positive feelings, both inside and outside.

He, speaking to a delegation of eminent bankers who called him, underlined the potential of the country's human resources with a mostly enterprising youth; "We need to channel their energies through skills development, allowing them to contribute to economic development." The Prime Minister said the government was focusing on reviving sick industrial units and promoting SMEs, as they were essential for wealth creation and job creation. Prime Minister's Advisor on Finance, Dr. Abdul Hafeez Shaikh, Prime Minister's Advisor on Institutional Reforms, Dr. Ishrat Hussain, Governor of the State Bank of Pakistan, Syed Reza Baqir, and senior Government officials were present at the meeting. The bankers informed the Prime Minister of the challenges facing the banking sector in terms of financing to accelerate economic activities aimed at creating wealth and presented various suggestions to overcome the problems encountered. Prime Minister Imran Khan welcomed the proposals of the banking community, in particular those related to the revival of sick industrial units.

The meeting was informed that the restructuring company had been created to take over the sick industrial units with the aim of reviving businesses in commercial or financial difficulty, thus making them profitable with the consultation of all stakeholders. The Prime Minister appreciated the delegation's proposals and ensured maximum facilitation.