Nearly 500,000 applications received for Naya Pakistan Housing Scheme

ISLAMABAD: Nearly five hundred thousand applications have so far been received for Naya Pakistan Housing Scheme, Radio Pakistan reported.  

According to official sources, there is a shortfall of over ten million houses in the country and every year the backlog is growing.

The Pakistan Tehreek-e-Insaf government launched the Naya Pakistan Housing Scheme for the provision of affordable housing facility to citizens.

On March 28, Pakistan and the World Bank signed a Memorandum of Understanding (MoU) for cooperation in housing sector during an international Housing Conference.

Addressing the conference, the prime minister said the World Bank has itself decided to support the housing project. He said the project has also received positive response from overseas Pakistanis and Chinese and Malaysian companies.

The prime minister said that the housing project will provide five million housing units to the low income population.

He said affordable houses will also be constructed in the tribal districts through micro-financing.

The project will directly benefit forty different industries related with the construction business, Khan said.

The bank’s delegation also offered its assistance in attracting foreign investment and funds for Naya Pakistan Housing Programme.