Prime Minister Imran Khan performed ground-breaking of Farash Town apartments in Islamabad today (Thursday) under Naya Pakistan Housing program.
Later addressing the ceremony, the Prime Minister said the project envisaging construction of flats is aimed at providing shelter to the underprivileged segments of the society including workers and labourers.
He said he will also soon perform ground-breaking of peri-urban housing society for the farmers.
The Prime Minister said a plan has also been prepared to convert the slums and equip them with the modern facilities including that of sanitation and sewerage. He said the slum dwellers will be given houses on proprietary rights.
He said mortgage facility has been introduced to provide loans to the people on easy installments so that they could have their own houses. He said negotiations are continuing with the banks to remove any impediments in this regard.
The Prime Minister regretted that the economy was mismanaged in the past. He said such loans were taken in the past which instead of wealth creation further increased the burden of loans.
Imran Khan said the government is focusing on wealth creation projects to retire the country's debt. He said these include Ravi City and Central Business District in Lahore whilst negotiations are being held with the Sindh government to develop the Bundal Island. He was confident that these projects will attract massive investments.
He said the projects to be executed under Naya Pakistan Housing Program will also uplift the thirty industries allied with the construction sector.
Imran Khan expressed satisfaction over increased activity in the construction industry. He pointed out that the cement sale remained at record level last year while growth has also been witnessed in the tax collection which indicates the business activity has increased in the country.
He said it is the first time that the country's textile industry is witnessing a record boom. He said the small and medium enterprises will also be uplifted to increase their share in economy.
Imran Khan said we have envisaged upgradation of railway line from Karachi to Peshawar. He said negotiations are also continuing to take the train service to the Central Asian States to promote regional trade.
The project of Farash Town apartments will be completed in three years with the collaboration of FWO, Capital Development Authority and Pakistan Housing and Development Authority. A total of 3960 flats having all the modern facilities will be constructed to provide low cost residence to people.
Flats have been allocated particularly for the low income class and slum dwellers in the project spreading over 84 acres of land. Green belts and parks have also been given special importance keeping in view environmental aspect of the project.
On the occasion, the Prime Minister also planted a sapling, and an MoU about the project was also signed.