ISLAMABAD: Prime Minister Imran Khan on Friday said that source of income of those investing in construction industry will not be asked till December 31 this year only.
“We have taken this permission from the international institutes citing the reason that we have informal economy and it was difficult for us to grow economically in pandemic situation,” PM Imran said while addressing media following a meeting with at National Coordination Committee on Housing, Construction & Development in Islamabad.
After Dec 31 our international obligations will reapply on us, he said. He said the government had decided to build the economy through construction industry.
“Naya Housing Project was initiated for the shelterless people who do not have money and who think all their lives about building a new house. Our aim was to build houses for commoners,” he said.
Imran Khan said that banks in Pakistan gave only 0.2 percent loan for houses, while in other parts of the world banks gave most of the loans for houses. He said there was much hurdles for the construction industry.
He also announced subsidy of Rs0.3 million on each house of the first 0.1 million houses to be built under Naya Housing Project scheme.
“5 percent interest on loan will have to be given for 5 marla house and 7 percent interest on 10 marla house, while rest of the interest will be susidised by the government,” he said.
The prime minister said that the government will pave the way for more jobs through mobilising the construction industry. Each province has started one window operation for construction of houses, he said.