Govt wants to keep installments lower: NAPHDA chairman

KARACHI    –  Chairman Naya Pakistan Housing and Development Authority (NAPHDA) Lt. Gen. (r) Anwar Ali Hyder has said that the federal government has taken a number of steps for ease of doing business in construction industry because this industry is important for rapid growth of national economy.

He was talking to a high level delegation of Association of Builders and Developers of Pakistan (ABAD), which met him in Islamabad recently. ABAD delegation included Chairman ABAD Fayyaz Ilyas, former chairman and patron-in-chief of Allied Panel ABAD Mohsin Sheikhani, vice chairman Arif Sheikhani, chairman Southern Region Eng. Danish Bin Rauf, former chairmen Hanif Gohar, Arif Jeewa and Muhammad Hassan Bakshi and others.

Chairman NAPHDA said that Prime Minister Imran Khan had promised 5 million affordable houses and 10 million jobs to the nation. The Prime Minister has announced Naya Pakistan Housing Scheme and a number of incentives for construction industry o fulfill his promise, he said. People from low income group will get own houses, a large number of people will get jobs and national economy will flourish due to construction package, he said, adding that a mechanism for providing low cost housing through bank loans is in place but it is a hard task to keep installments at par with normal house rent. He said the Prime Minister has announced subsidy for low cost housing with the sole purpose to keep installments lower. The State Bank of Pakistan, on the direction of Prime Minister, has instructed all banks to reserve 5 percent of their total capital for low cost housing loans.

Chairman ABAD Fayyaz Ilyas, on this occasion, appreciated efforts of the federal government for announcing historic incentives for the construction industry. He said that ABAD was asking for incentives to construction industry since a long but past governments did not pay heed but we are happy that the present government has announced an attractive incentive package for construction industry, which will prove a game changer for the national economy.

Former chairman and patron-in-chief Allied Panel ABAD Mohsin Sheikhani said that the construction package announced by the Prime Minister will have long term effect on national economy as thousands of people will get jobs and houses on easy terms. He appreciated Prime Minister Imran Khan for starting poor-friendly housing program.

Article source: https://nation.com.pk/28-Nov-2020/govt-wants-to-keep-installments-lower-naphda-chairman