Low-income housing scheme may get go ahead next week

Core group to present final report to PM next week to initiate housing scheme

ISLAMABAD – The core group will meet Prime Minister Nawaz Sharif next week on Wednesday (June 11) to present final report and get approval to initiate the low-income housing scheme.

State Minister for Housing & Works Barrister Usman Ibrahim chaired a meeting of core group on the prime minister’s low-cost housing scheme Friday to finalize the report on low-cost housing units.

The minister said that the government was well aware of the housing problem that is why six billion rupees has been allocated in the budget for 500,000 houses under the scheme to overcome housing shortfall.

He said that the government has designed a programme to provide housing credit for the low-cost housing units in order to enable the poor to have their own houses. Banks will provide loans of up to one million rupees while the government would guarantee 40% of the portfolio amount.

It is one of the major innovative schemes of the present government which would cover all areas of Pakistan by providing loan to 25,000 low and middle class families.

The meeting was attended by the secretary and the joint secretary of the Housing & Works, the director general of the National Housing Authority and the managing director of the National Construction Limited.

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