More than 70,000 housing projects totaling 1.4 trillion rupees have been approved, according to Prime Minister Imran Khan. These projects would have a total economic impact of 7.3 trillion rupees on Pakistan’s construction industry and will generate 1.2 million employment, he said.
The meeting of the National Coordination Committee (NCC) on Housing, Construction, and Development was taking place in Islamabad today, and he was the chairman.
According to Radio Pakistan, Prime Minister Imran Khan described it as a “huge achievement” for the federal government that 35,420 out of a total of 80,000 applications have been approved and that a total of 46 billion rupees has been disbursed to 13,407 applicants so far, a figure that represents a 46 percent increase over the previous year.
He stated that the government’s efforts to promote low-cost housing and the construction industry had resulted in a 148% growth in housing finance over the last three years, with a projected approval of 517 billion rupees by the end of this year.
The prime minister stated that the government was committed to increasing house financing by one percent every year.
The gathering was informed that 161,924 housing units have been approved since 2018, with 45,191 units now under construction and 20,898 units finished as of the end of the year.
PM Khan requested that the projects be completed within the specified time frames and emphasized the importance of taking steps to simplify and streamline the process for low-cost housing developments.