Prime Minister Imran Khan has announced the launch of a pilot project of 5 million subsidised homes for citizens on a need basis in all four provinces and Gilgit-Baltistan.
The houses will be provided on easy installments, with 2.5 million homes made in the first phase and another 2.5 million in the second phase.
Speaking at a special ceremony to launch the initiative, the PM said that he hoped the program will help realize the dream of shelter for the poor, and also help create employment opportunities.
He also announced the formation of the “Naya Pakistan Housing Authority” which will oversee all construction related formalities. The authority will be set up in 3 months, until which a task force will look after the housing project.
The PM said that he hoped the project will attract local and foreign investment and stimulate related industries. He said that the Government will act as a facilitator in the project and the construction activity will be carried out by the private sector.
A National Financial Regulatory Body will be set up soon to remove any obstacles in the financing of the project. Similarly, a legal framework is also being prepared to ensure that no legal hurdles come in the way of the project’s implementation.
PM Khan said a Land Bank will will be created to identify land for the construction of houses, with assistance from the Federal Government, Housing Ministry, provincial governments and local bodies.
The scheme will start with pilo projects being launched in seven districts of the country, where a registration process will be initiated with the cooperation of NADRA to gather data for the housing needs of the people.