ISLAMABAD: Federal Minister for Information and Broadcasting Shibli Faraz on Thursday said that welfare of the poor segments of the society is the focus of Prime Minister Imran Khan’s policies.
He said this while briefing media about the meeting of National Coordination Committee on Housing, Construction and Development, chaired by PM Imran Khan here in Islamabad.
Addressing a news conference in Islamabad on Thursday, Shibli Faraz said that Rs400 billion construction related projects will be initiated in the last quarter of the current year.
The information minister said Prime Minister Imran Khan is giving special emphasis to the uplift of the construction sector in order to revive the economy.
A project envisaging construction of houses and apartments worth 145 billion rupees will be started on the 20th October, he added.
Shibli Faraz said that government decided to give loans on five percent markup to those constructing five marla houses while for the ten marla houses, the markup rate will be seven percent.
He said additional Rs30 billion have been set aside as subsidy for Naya Pakistan Housing scheme.
The federal minister said the Prime Minister today chaired a meeting of National Coordination Committee which was attended by the country’s prominent investors and builders.
He said the meeting discussed several proposals to uplift the sector including holding international roadshows for construction-related projects in order to attract investment of overseas Pakistanis.
Prime Minister has now decided to hold the meeting of the committee every two or three days keeping in view the importance of the sector, he added.
The information minister expressed satisfaction over the recent auctions of Capital Development Authority saying there is an enabling environment for the construction sector in the country.