Islamabad (October 10, 2018): Prime Minister Imran Khan has formally announced the Five Million Housing Project in Capital Islamabad. The inauguration of the project is part of government’s election manifesto of constructing five million houses for the shelter-less people in its five year tenure.
Speaking to the launching ceremony, the premier said that five million houses will be constructed over the next five years under the project, also dubbed as ‘Apna Ghar Authority’.
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He sought to allay concerns regarding an impending economic meltdown in the country, saying he will take the country out of this “difficult time”.
He said that his government is trying hard to stable govt institutions.
Khan said he will present a roadmap before the nation listing steps the government will take to stabilize the economy.
The premier said he will “guide” the nation every week on his government’s economic plans.
“Have courage, there is nothing to worry about,” the prime minister said, assuring the nation that the turbulence in the economy won’t last long.Khan said that an impression has been created in the last 48 hours “as if the sky is going to fall [or] the day of judgement is upon us”, but instead sought to explain the issues faced by the economy.
He said the previous governments had taken loans recklessly, which has resulted in the country’s debt ballooning from $6 trillion to $30 trillion in the past 10 years alone.
He said that the previous PML-N government had started its term with a $3 billion current account deficit, but the 40-day-old Pakistan Tehreek-i-Insaf (PTI) government inherited an $18bn current account deficit.
“One country wants to invest USD20 in the housing industry in Pakistan,” Prime Minister Khan said.“Inshahullah, we will steer Pakistan out of crises. It’s a difficult time for us but this too will phase soon,” he said.
The prime minister said that he would devise a roadmap to address the challenges being faced by the country.
“The housing scheme is our real scheme. At least 40 industries are directly related with the housing scheme. When we launch the project, all these industries will benefit from it,” he said.
“Our target is to build five million affordable houses in five years. Only ordinary people will benefit from this scheme,” Khan said.“A common man who can never think of owning his house is our target. And our second target is to provide employment opportunities to our jobless youth,” he said, adding that 40 industries were directly linked with the housing project.
“We will encourage youth to set up their own construction companies to be part of this initiative,” the premier said.
Khan said that skill development program would also be launched to help youth benefit from the project.
The prime minister noted that 80 percent of American population build their homes through loans.Registration for the houses is also expected to begin today, sources said. However, they said that registration for the houses does not entail allotment and will only identify those in need.
The National Database and Registration Authority (NADRA) has been given the task of collecting data to identify those in need, sources further said.
Areas where low-costing houses can be built, will also be identified. “The private sector has been made part of the housing project to give recommendations on completing the project in five years,” the sources added.
Initially, the pilot project will be launched in seven cities which include Faisalabad, Sukkur, Quetta, Dera Ismail Khan, Islamabad, Gilgit and Muzaffarabad.Last month PM Imran had announced he will take ownership of the initiative in order to ensure smooth implementation and remove any administrative bottlenecks.
“Provision of five million houses equipped with all basic facilities, and regularisation of slums is the foremost priority of the government and a part of Pakistan Tehreek-e-Insaf’s manifesto,” PM Imran said.
Earlier, the decision to build five million houses was taken in a meeting chaired by the prime minister Imran Khan on October 5.
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The meeting decided that the five million houses will be completed in two phases as 2.5 million houses will be constructed in each phase.
PM Imran directed to complete the project in the given period. The meeting pondered over the construction of houses on Malaysian model houses.According to policy, the houses will be comprised of three, five and seven marla and will be provided to the citizen on 15 to 20 years installments.
Imran Khan said that provision of five million housing, equipped with all basic facilities, provision of clean water and regularization of slums is a foremost priority of the Government.Prime Minister directed the committee to finalize its recommendations regarding formulation of a comprehensive plan of action with delineated timelines within two weeks for early rollout of the Housing Program.
PM hinted that five million houses will also give employment opportunity, however, any negligence or delay will not be tolerated in this regard.