Low-cost mortgages to be approved first time in Pakistan: PM Imran

The State Bank of Pakistan has permitted Rs69 billion in loan to financing schemes for the Naya Pakistan Housing & Development Authority (NAPHDA).

These loans will facilitate low-income breadwinners in building their own house, quoted the authority chairman in a briefing on Friday.

Chairman NAPDA Lt Gen (retd) Anwar Ali Haider called on Prime Minister Imran Khan and extended on the development of low-cost housing projects in the country under the Pakistan Tehreek e Insaf-led project.

PM Imran Khan uttered gratification over the low-cost housing project said the establishment of low-cost housing for people was among the top urgencies of the government.

For the first time in Pakistan’s history, he said, the government had introduced mortgage financing.

Imran Khan said the low-income groups shall now be able to have satisfying housing of their own instead of spending exceedingly on rentals.

Whereas, yesterday the premiere received a telephone call from his Iraqi equivalent Mustafa Al-Kadhimi.

PM Imran Khan wished the Iraqi government success in holding the parliamentary elections in October this year and uttered hope that equality and democratic institutions would be further supported in Iraq.

He also commended the Iraqi prime minister for the efficacious holding of the Baghdad Conference for ‘Cooperation and Partnership’ last month, PM Office said in a statement.