Four hundred billion rupees construction related projects will be initiated in the last quarter of current year, the Federal Minister for Information and Broadcasting Senator Shibli Faraz has said, adding that a project envisaging construction of houses and apartments worth 145 billion rupees will be started on the 20th October.
According to media reports, the Information Minister has stated this while addressing a news conference in Islamabad on Thursday. He said Prime Minister Imran Khan is giving special emphasis to the uplift of construction sector in order to revive the economy as well as realize the dream of disadvantaged segments of the society to own their houses.
Senator Shibli Faraz said those constructing five marla houses will be given loans on five percent markup and for the ten marla houses, the mark up rate will be seven percent. He said installments will be such that the people could easily pay. He said additional thirty billion rupees have been set aside as subsidy for Naya Pakistan Housing scheme.
The Federal Minister expressed satisfaction over the recent auctions of Capital Development Authority saying there is an enabling environment for the construction sector in the country.
Shibli Faraz further said that the Prime Minister today chaired a meeting of National Coordination Committee on Housing, Construction and Development. It was attended by the country’s prominent investors and builders. He said the meeting discussed several proposals to uplift the sector including holding international roadshows for construction related projects in order to attract investment of overseas Pakistanis.
The Minister said the Prime Minister has now decided to hold the meeting of the committee every two or three days keeping in view the importance of the sector which is both labor and capital intensive. He said the focus of Prime Minister Imran Khan’s policies is middle class and poor segments of the society.
Prime Minister’s Special Assistant on Poverty Alleviation and Social Protection Dr Sania Nishtar also attended the news conference and said that the government has decided to expand the scope of the Ehsas Emergency Cash programme. She said its budget is being increased from 144 billion to 203 billion rupees. She said 16.9 million deserving families, which almost cover more than half of Pakistan’s population, will benefit from this scheme.
Dr Sania Nishtar said distribution of cash assistance is continuing till the last deserving family gets the amount. She said Ehsas Emergency Cash programme is the biggest social protection package announced in Pakistan’s history.
The Speical Assistant said this programme is being commended at the international level under which cash assistance is being provided to deserving families in a transparent manner and beyond political affiliation.