Housing projects worth Rs1.4 trillion approved: PM Imran Khan

ISLAMABAD: Prime Minister Imran Khan said on Thursday that over 70,000 housing projects worth 1.4 trillion rupees have been approved which will have an overall impact of 7.3 trillion rupees on the construction industry and will create 1.2 million jobs.

He was chairing a meeting of the National Coordination Committee (NCC) on Housing, Construction and Development in Islamabad today.

PM Imran Khan said it is the federal government’s huge achievement that 35,420 out of the total 80,000 applications have been approved and a total of 46 billion rupees have been disbursed to 13,407 applicants so far, Radio Pakistan reported.

He said a

148 per cent increase in housing finance during the last three years and expected approval of 517 billion rupees till December this year reflects the steps taken by the government to facilitate low-cost housing and construction industry.

The premier said the government committed to adding one per cent every year in house financing.

The meeting was briefed that since 2018 161,924 housing units were approved out of which 45,191 units are under construction and 20,898 have been completed.

PM Khan directed to complete the projects in the defined timelines and emphasised taking steps to improve and ease the process for low-cost housing projects.