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PM vows to get out of the economic crisis through the construction sector


Aizbah KhanWeb Editor

10th Jul, 2020. 07:07 pm
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PM vows to get out of the economic crisis through the construction sector

Prime Minister Imran Khan has said that the construction sector in Pakistan has faced many problems and to address these problems, a National Coordinating Committee has been formed which includes consultation with all the provinces.

Speaking after the meeting of the National Coordinating Committee on Construction and Development, Prime Minister Imran Khan said that there is an economic crisis in the world due to coronavirus and the countries are adopting different strategies to deal with and we decided to activate our economic activities through the construction sector.

Prime Minister Imran Khan said that he would do it himself under the supervision of 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 Naya Pakistan Housing Scheme and address their problems.

He said that “no such thing has happened in Pakistan before so the launch of the Naya Pakistan Housing Scheme faced extraordinary difficulties”.

“We have a respite from international pressure due to the coronavirus until December 31, so the construction industry should understand that this is an important time to take advantage of the concessions provided by the government,” he said. Because after that this opportunity will not remain, we will not be able to give many concessions.

Prime Minister Imran Khan said that the government has given a subsidy of Rs 30 billion for the new housing scheme, ie Rs 300,000 will be given for the first one lakh houses.

“People who take a loan from a bank for the construction of a five-storey house will have to pay 5 per cent interest,” he said.

Prime Minister Imran Khan said that banks in Pakistan lend only 0.2%.

He said that there were many obstacles in the Naya Pakistan Housing Scheme, most of the banks in the world provide loans for houses.

The Prime Minister said that the purpose of the Naya Pakistan Housing Program is to enable the poor to build houses.

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