Delivering 5m homes via markets
Incentives will push private sector to deploy resources for building housing units
Prime Minister Imran Khan. PHOTO: RADIO PAKISTAN
ISLAMABAD:
The most important promise that Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) made to the people in the economic domain was the construction of five million homes targeting the poor segments of the populace.
Three years on, we have seen the launch of Naya Pakistan Housing Programme (NPHP), along with the announcement of subsidised mortgages for the low-income customers.
As of today, 1,500 housing units have been delivered whereas another 5,000 units in different cities are being built. Even then, the attribution of these units exclusively to NPHP is debatable as housing is technically a provincial domain.
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The federal government launched the Naya Pakistan Housing Programme (NPHP) for the construction of 5 million housing units to provide affordable houses to the low-income segment of the society.
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Laborers work on a building construction site in Karachi, Pakistan, Feb. 25, 2016. Photo: AFP
Working at a private company as a sanitary worker, Mukesh was excited to see the Naya Pakistan Housing Scheme that offers cheap loans for people with humble background who donât own a house. He made the efforts and found a house worth Rs3.7 million but the bank paperwork delayed things. When he again inquired about the house, its price had gone up to Rs4.2 million â over 13% increase within a few months.
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