Islamabad: The construction of affordable houses under Prime Minister Imran Khan’s Naya Pakistan Housing Programme (NPHP) initiative is to start off in six districts of Punjab on January 1, 2019, reported a news source. Under NPHP Phase I, affordable houses will be constructed in Sialkot, Jhelum, Bahawalnagar, Chiniot, Lodhran and Muzaffargarh.
To share the details of the project, Federal Minister for Housing & Works Shabbir Ali Qureshi, Punjab Minister for Housing Mehmood-ul-Rasheed and Task Force for Housing Chairman Zaigham Mehmood Rizvi held a joint press conference.
The houses will be offered on a 20-year payment plan where the monthly instalments will be as high as PKR 18,564. The applicants will be required to pay 20% of the total amount as a down payment. Those who own a piece of land will be able to get a bank loan of PKR 600,000. In this regard, the Task Force is also holding sessions with banks to have them reserve 5% of their respective loans for NPHP. In return, tax burden on banks will be reduced.
