Prime Minister Imran Khan on Friday attended a ceremony to mark Rs. 100 billion worth of housing finance approved under the Mera Pakistan Mera Ghar Initiative, which was launched by the premier to help low-income class make their own house.
The premier handed over keys of the houses to the borrowers of the constructed houses and called the Mera Pakistan Mera Ghar Initiative a ‘big moment’ for Pakistan. He added that the government’s scheme of subsidized loans for house construction will help the low-income class to own their own house and also boost the national economy through the construction sector.
“This is a great moment for Pakistan because we are heading on the path which we should have opted way earlier,” said Prime Minister Imran Khan while address the ceremony marking approval of Rs. 100 billion worth of housing finance by banks under the Mera Pakistan Mera Ghar Scheme.
The Prime Minister also distributed certificates of appreciation to the banks which have performed well in providing loans to the common man who otherwise would not have been able to own his own home. The premier also lauded the efforts of Finance Advisor Shaukat Tarin, State Bank Governor Raza Baqir and the Naya Pakistan Housing Chairman Anwar Ali Haider for their efforts.
Prime Minister Imran Khan said that salaried person never had the resources to buy a house but no one ever thought of any solution to help them avail such a facility. He added that during his cricketing career, he interacted with several overseas Pakistanis and their greatest desire was to make enough money to build a house in Pakistan.
He added that it was very easy for salaried class to make their own house in the west through mortgage finance, however, such a facility was not available to the common man in Pakistan. The past governments did not focus on the lower classes as they had only paid attention to the elite in every sector (education, health, and other facilities).
The prime minister said Pakistan’s development was never inclusive, and that, according to him, was the reason the country could not progress. However, the Mera Pakistan Mera Ghar Scheme, according to the Prime Minister, will allow the ordinary person to build their own houses. “There were several hurdles earlier, as when a common person would go to the bank, they would suffer from anxiety.” said the PM, adding that the project would also lift Pakistan’s economy.
Mera Pakistan Mera Ghar Scheme is available in both conventional and Islamic modes, which enables banks to provide financing for the construction and purchase of houses at very reasonable financing rates for low to middle-income segments of the population.