PM Khan lays foundation stone of Naya Pakistan Housing Authority Project

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Prime Minister Imran Khan - File Photo

ISLAMABAD: Prime Minister Imran Khan laid the foundation stone of Farash Town Apartments Naya Pakistan Housing Authority’s project in Islamabad.

The project will be completed in three years in collaboration with FWO, CDA and New Pakistan Housing and Development Authority. Under this project 3960 flats will be constructed equipped with modern facilities which will provide affordable accommodation to the residents.

Addressing the inaugural ceremony on Thursday, PM said “We want to provide subsidised houses to those who can’t afford it. Banks are not willing to give loans to poor people.”

We are moving towards automation, he remarked, adding that it will help solve the problems of the people.

“I have seen the work of FWO and they have left me impressed. They completed the work on the Kartarpur corridor in record time,” Prime Minister said.

On March 26, the government announced that people can borrow up to Rs10 million to finance a house of 125 to 250 square yards or an apartment with a covered area of 2,000 square feet.

The government has doubled the amount people can borrow under the central bank’s markup subsidy for the housing finance scheme.