Islamabad: Prime Minister (PM) Imran Khan on Friday (November 19) visited the construction site of the Naya Pakistan Housing Project (NPHP) in Farash Town, in the suburbs of Islamabad, to review the work on under-construction apartments, according to news sources.
Reportedly, Capital Development Authority (CDA), Frontier Works Organization (FWO), and Naya Pakistan Housing and Development Authority (NAPHDA) are working in collaboration for the construction of 4,400 apartments.
PM Imran Khan was informed the development work is progressing as per the schedule. Talking about relief to the construction sector, the minister said the incumbent government offered a 90% exemption on taxes.
Sharing more details, PM Khan disclosed 52,500 housing units were under construction, out of which 20,000 have already been delivered through Akhuwat and Workers Welfare Fund. It is pertinent to mention that the PM performed the groundbreaking of apartment project in Farash Town in April this year.
According to the details shared, the project is being developed on 70-kanal land at the cost of PKR 15.3 billion. Out of the total 4,400 apartments, 2,000 were reserved for low-income groups, 400 for slum dwellers, and the remaining 2,000 for salaried and middle-income classes. Moreover, under this initiative, the government will also provide a subsidy of PKR 300,000 for each house and easy loans at a small markup. For this purpose, PKR 30 billion have been allocated.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
