PM to approve low cost housing scheme on 11th June

[Salman]

PM to approve low cost housing scheme on 11th June\

The core group will meet the prime minister on June 11 to present final report and get approval to initiate the low-income housing scheme.

Minister of State for Housing & Works Barrister Usman Ibrahim chaired a meeting of core group on Prime Minster’s Low-Cost Housing Scheme Friday to finalise the report on low-cost housing units.

The minister said that present government was well aware of housing problem that is why Rs 6 billion has been allocated in the budget for 500,000 houses under the said scheme to overcome housing shortfall in the country.

The minister added that the government has designed a programme to provide housing credit for low-cost housing units in order to enable the poor to have their own houses. Banks will provide loans of up to Rs 1 million while the government will guarantee 40 percent of the portfolio amount.

It is one of the major innovative schemes of the present government which would cover all areas of Pakistan by providing loan to 25,000 low and middle class families.

The meeting was attended by the Secretary Housing & Works, Joint Secretary Housing & Works, Director General National Housing Authority (NHA), Managing Director National Construction Limited (NCL).