Govt to issue home finance ordinance: PM Imran

PM Khan reviews progress of development projects in erstwhile FATA

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ISLAMABAD: Prime Minister Imran Khan says an ordinance related to foreclosure laws will be put before cabinet for approval to pave the way for housing finance.  Addressing registration ceremony of Naya Pakistan Housing Program in Islamabad this afternoon (Monday), he said housing sector in Pakistan has lagged behind the regional countries due to lack of mortgage facilities to people by banks.

Imran Khan said housing is a basic need and there is a demand of ten million housing units in the country, but salaried class is not able to build their homes due to lack of resources.

He said affordable housing will be provided to people who otherwise are not able to bear the high costs of constructing a house.

The Prime Minister said the purpose of registration is to get a clear picture of vital statistics relating to housing project including area preference, required finances and civic amenities. He said a comprehensive database will be prepared containing all vital information in this regard.

Imran Khan said government will facilitate new entrants to the housing business in order to encourage entrepreneurial culture in the educated youth.

He said forty ancillary industries will benefit from Naya Pakistan Housing Program, reducing unemployment and spurring the business activity. He said domestic and foreign investors are being encouraged to invest in housing projects in the country. The Prime Minister said the housing project launched on Angoori Road in Islamabad will be completed in one and half years’ time while work on the housing program in other cities will start soon.

Meanwhile, Prime Minister Imran Khan formally approved plan to separate the Civil Aviation Authority (CAA) into two divisions which green-lighted outsourcing of airport services’ division. PM Imran Khan chaired a high-level session related to Civil Aviation Authority (CAA) today where the major decisions were taken to revamp the aviation sector.

Under the new plan, the regulatory division will remain under the administration of CAA authorities, whereas, airport services’ division will be outsourced by the government.

PM Khan directed to adopt transparent procedures to outsource the airport services’ division besides ordering to register it under the Securities and Exchange Commission of Pakistan (SECP).

Moreover, Prime Minister Imran Khan reviewed the progress of development projects initiated for uplift of newly-merged tribal districts belonging to erstwhile Federal Administered Tribal Areas (FATA). A high-level session held in Islamabad under the chair of PM Imran Khan which was also attended by senators belonging to erstwhile FATA where development and administrative affairs of the tribal areas were reviewed.

The senators informed PM Khan of difficulties being faced by nationals living in the newly-merged areas. While addressing the session, PM Khan said, it is crucial to register businesses and expansion of the country’s tax net for achieving the targets set by the government for economic development. Half of the national income spent on interest and loans payments, he added.

Similarly, Prime Minister Imran Khan will chair a session of the federal cabinet on Tuesday (tomorrow) to review nine-point agenda. A briefing would be given to the federal cabinet over government’s medical expenditures on camp officers of the state heads, sources said. The cabinet is likely to approve declaring Shehbaz Airbase and its connected areas as Jocobabad Cantonment.

A detailed report would be presented by a committee in the session over usage of government buildings and governor houses. Moreover, a committee headed by the Federal Education Minister Shafqat Mahmood will also present a progress report.

The cabinet members will also be briefed for Zarai Taraqiati [agriculture development] Bank, whereas, the approval is likely to be given for the appointment of National Vocational and Technical Training Commission’s (NAVTTC) executive director.

The approval of ‘E-Commerce Policy Framework’ is also included in the session’s agenda, whereas, the high-ups will review steps for the institutionalisation of Capital Market Transaction besides discussing amendments in schedule one of the Rules of Business. A briefing will be given to the cabinet session regarding the implementation of its previous decisions.

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