World Bank to work with Pakistan in housing sector

Islamabad: The World Bank and the Government of Pakistan have signed a Memorandum of Understanding (MOU) for cooperation in housing sector. The MOU was signed at an International Housing Conference in Islamabad. Prime Minister Imran Khan addressed the conference and shared updates on Naya Pakistan Housing Scheme.

Prime Minister Imran Khan highlighted the impact of low-cost housingĀ  to the low-income segment of the society. The Prime Minister announced that Naya Pakistan Housing Scheme will be launched next month. Under the Naya Pakistan Housing Scheme five million low-cost housing units will be built. The houses will be built by the private sector with full support from the government. He revealed that Malaysian and Chinese companies had shown interest in the Naya Pakistan Housing Scheme. He added that the Naya Pakistan Housing Scheme will directly benefit 40 industries related to the construction sector.

The Prime Minister shared his vision for urban planning and land regularization. He said that slums across all major cities including Islamabad will be regularized. However the houses of the poor people will not be demolished. He said that low-cost housing will be constructed in the tribal districts through micro-financing.

Regarding urban development the Prime Minister reiterated that any further development in urban centers will be vertical for more efficient and smarter city management.

Prime Minister Imran Khan said that state land worth over rupees five hundred billion had been recovered from land mafia to-date. He said that all recovered land will be recorded in a central land bank.

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