A huge project was officially kicked off by Prime Minister Shehbaz Sharif on Thursday, and is bound to transform people’s lives for the better.
The “Wazir-e-Azam Apna Ghar Programme,” which would cost Rs3.2 trillion, was unveiled by the Prime Minister during an inauguration ceremony held in Islamabad. The five-year program would facilitate the building of half a million houses in Pakistan.
There was no ambiguity whatsoever about the objectives of the scheme when the government launched it. Within the first year alone, officials aim to provide financing for 50,000 housing projects. These projects would cost around Rs321 billion.
During the complete process, the government will facilitate affordable loans up to Rs10 million. These loans are for constructing houses in plots ranging between 0-10 marlas. The government will give homeowners a loan tenure of 20 years. There will be a concession of 5% interest rate for the first ten years, and the market rate thereafter.
Attendees witnessed as the Prime Minister inaugurated the program by pressing a button. He also presented loan cheques to the recipients.
As part of his speech, the Prime Minister regarded the program as the sacred obligation of any government towards its citizens. This is especially after many have waited for years for their own roof over their heads.
Additionally, he made it explicit that this housing project would lead to industrial development. It would also create employment opportunities for millions of workers and engineers.
The Prime Minister noted that the housing program was being launched throughout the country. It covers all four provinces, AJK, and GB. He mentioned the previous Ashiana housing program in Punjab. He also promised to personally follow the progress of the new program every month and overcome all possible impediments in its implementation.
The present measure shows the will of the government to address the chronic problem of lack of housing in the country.
