Monday, October 25, 2021

Punjab govt rolls out ‘affordable’ Naya Pakistan Housing Project in Lahore

The plan for Naya Pakistan Housing scheme. Photo Courtesy: Twitter/Usman Buzdar
  • The project will comprise 35,000 apartments with affordable installment plans
  • Chief Minister Punjab Usman Buzdar made the announcement on Twitter

LAHORE: Punjab government on Tuesday announced that the “Naya Pakistan Housing Project” will start soon which will comprise  35,000 apartments with affordable installment plans.

Chief Minister Punjab Usman Buzdar made the announcement on Twitter. “35,000 apartments’ Naya Pakistan Housing Project, with affordable installments plan, will be starting soon in Lahore InshaAllah,” he said in a tweet.

Last month, Housing Minister Mian Mahmood-ur-Rashid had said that the groundbreaking ceremony of 35,000 new housing units in Lahore would be performed by Prime Minister Imran Khan on December 25, 2020.

Stating that financing for the construction of houses was also a major challenge and banks were not ready to finance these projects, the minister said that now State Bank of Pakistan has bounded the banks to allocate 5% of their borrowing for the housing sector.

Source: The News

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