Islamabad: The World Bank (WB), in its latest report, has estimated that more than one in every three urban Pakistanis suffers from ‘housing poverty’ due to the absence of proper housing policy, news sources reported on September 11. The report has catagorised the national population into two primary groups; those confronting housing insecurity and those facing widespread housing poverty.
In a report titled ‘Behind on Rent or Left Behind: Measuring Housing Poverty in Urban Pakistan’, released on Friday (September 09), the global bank estimated that the disparity between urban and rural housing is even more alarming since the affordability and income have shrunk during the recent time. According to the survey, the following estimates of housing insecurity versus housing poverty have emerged:
Province
Housing insecurity
Housing poverty
Punjab
35.8%
25.8%
KP
42.2%
23.6%
Balochistan
37.1%
59.8%
Sindh
45.3%
34%
Source Dawn E-papaer
According to World Bank research, the non-housing poverty line in urban Pakistan is predicted to be PKR 3,716 per adult equivalent per month in 2018-19. In other words, a family of five with three children needs at least PKR 16,350 per month after paying for housing to be deemed to be living in affordable accommodation. The WB deemed the situation dire related to housing as the population size and inflation increased in Pakistan.
It is pertinent to mention that the government announced Naya Pakistan Housing Programme (NPHP) in 2019 to address the housing crisis in the country. Currently, under the government scheme, banks are allowed to approve mortgage loans for 20 years to increase the housing sector in the country.
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.
