PM inaugurates Punjab Peri-Urban Low-cost Housing Scheme

Prime Minister Imran Khan has inaugurated the “Punjab Peri-Urban Low-cost Housing Scheme” which is designed to provide low cost houses to people. While performing the ground-breaking of the project the premier said that the present government was striving for equitable distribution of resources to rich and poor by ensuring basic amenities of life for all.

The ground-breaking was performed in Lahore and at the same time virtually at 9 different places of the province including Chiniot, Dera Ghazi Khan, Chunian, Khanewal, Khushab, Mandi Bahauddin, Mianwali, Jalalpur Pirwalla and Sargodha. While commenting on the project the PM said that the government’s low-cost housing initiative would enable the common man, including the salaried class, welders, mechanics and small farmers, to own their own houses. He said the banks are now providing loans on low interest rates to the common man to build their own houses. Under the peri-urban housing scheme, the housing units are being built in areas where there was no concept of constructing the houses

The 3.5 marlas house will be built with government subsidy. The total support price of the costly land is fixed at 30,000 to 35,000 per marla, while the total cost of the house is around Rs1.43 million. The applicant will deposit Rs143,000 and around one million rupees will be provided by the Punjab Bank. The applicant will deposit around ten thousand monthly instalment and the Pakistan government/NAPHDA will provide a Rs0.3 million subsidy for each house. Thus, Rs1.4 million houses would be provided at Rs1.1 million each in addition to the subsidy for the piece of land. The construction of these houses will also positively affect the economy of the country as all the allied industries will be set in motion.