Islamabad: Prime Minister (PM) Imran Khan on Tuesday (January 25) inaugurated Pakistan Housing Authority (PHA) Officers Residencia, a housing project on Kurri Road Rawalpindi, news sources reported. The project comprises 588 houses and 88 commercial units with community centres.
According to reports, the Pakistan Housing Authority (PHA) has completed the project at a total cost of PKR 6.5 billion. The project spans over an area of 90 acres, which was provided by the Capital Development Authority (CDA) in 2009. On the occasion, the premier said that the government has launched housing projects worth PKR 124 billion across the country and around 88,000 housing units will be constructed in the existing fiscal years.
According to available figures, banks have disbursed PKR 40 billion in loans to the public so far. He emphasised the importance of housing finance and stated that the government’s mortgage strategy will assist low-income citizens in buying homes on simple instalments. He further said that with the launch of building projects worth billions of rupees the employment rate has grown by 40% to 50%.
On the occasion, PM Imran also emphasised the stabilising influence of the construction industry on the economy, as well as the World Bank’s (WB) financial report on Pakistan and the 5.37% GDP growth.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
