Friday, December 24, 2021
Prime Minister Imran Khan on Friday termed the Rs100 billion approvals in the Mera Pakistan Mera Ghar initiative as a "big moment" for Pakistan.
The premier, addressing a ceremony to mark the approvals, said initiatives such as Mera Pakistan Mera Ghar, should have been launched earlier. "I see Pakistan now moving in the direction it should have been headed in a long time ago."
The prime minister said everyone was aware that people belonging to the salaried class could not accumulate a certain amount to purchase their own homes.
"Pakistanis who worked as labourers overseas had one dream — to build a house for themselves and their families," the prime minister said, regretting that past governments did not pay heed to this issue.
PM Imran Khan said the past governments did not focus on the lower classes as they had only paid attention to the elite in every sector — education, health, and other facilities.
The prime minister said Pakistan's development was never inclusive, and that, according to him, was the reason the country could not progress.
The initiative, according to the premier, will allow ordinary people to build their own homes."There were several hurdles earlier, as when a common person would go to the bank, they would suffer from anxiety."
PM Imran Khan said this project would lift Pakistan's economy, as construction of homes would increase.
Available in both conventional and Islamic modes, this scheme enables banks to "provide financing for the construction and purchase of houses at very low financing rates for low to middle-income segments of the population," the State Bank of Pakistan's website says about the initiative.
"Keeping in view the need to improve the availability of adequate housing in the country and the important role of the construction sector in boosting economic activities in other countries, the government of Pakistan envisions increasing the number of housing units manifold in coming years," the SBP's website says.