PM calls for collective measures to address Covid-19 economic, health repercussions

Naya Pakistan Housing Scheme, PM breaks ground for 4,000 low-cost flats

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Prime Minister Imran Khan urged the Developing-8 (D-8) countries on Thursday to develop a strategy to deal with the economic and health crises brought on by the Covid-19 pandemic.

 

“We must mobilise financing and resources to recover robustly from the economic and health crises induced by Covid pandemic.”

 

“We must come up with a strategy to deal with the emergency posed by the pandemic,” the premier said while addressing the virtual 10th D8 leadership summit. The premier added that no country could deal with the current challenges on it’s on, adding that the challenges have to be dealt with collectively.

The premier also called for boosting trade between the D8 countries. To achieve this objective, he added, the states will have to simplify border procedures, opertionalise new initiatives and ensure transactions in local currencies, amongst other measures.

“The states must also put in place a huge engagement strategy through cultural and people to people exchanges,” he maintained.

 

Terming technological development essential in today’s era, the premier called for promoting knowledge based economies and increasing expenditure on research and development.

 

“We must also work towards improving the lives of citizens by promoting food security, and supporting each other in times of crisis,” he stressed.

To achieve these objectives, we need a high level of motivation and commitment between the developed and underdeveloped economies, PM Imran said.

 

Last month, while addressing virtual 14th ECO Summit, the premier invited the Economic Cooperation Organization’s (ECO) member countries to tap the enormous economic opportunities available in Pakistan, saying the country could be the centre-point for economic development.

 

“We have rich resources, enterprising people and human workforce, with a larger potential for future,” he was quoted as saying. For the first time in the country’s history, 600 out of 4,000 apartments will be given to slum dwellers as Prime Minister Imran Khan performed the ground-breaking of the low-cost housing units in the capital’s Farash Town on Thursday.

 

Other 2,000 flats will be allotted to those who had registered themselves under the Naya Pakistan Housing Programme, while 1,600 flats will be sold out on an open market basis by Capital Development Authority.

 

Prime Minister Imran Khan witnessed the Memorandum of Understanding signed among the Naya Pakistan Housing Development Authority (NPHDA), Capital Development Authority (CDA) and Frontier Works Organization (FWO), which will jointly carry out the project.

Speaking on the occasion, Prime Minister Imran Khan said the project aimed at providing shelter to the underprivileged segment of society, particularly the working class and labourers.

Imran Khan said within a time frame of two years, people would be able to move into the houses with ownership rights.

 

The Prime Minister expressed satisfaction that regular negotiations of the government with private banks, the Federal Bureau of Revenue (FBR) and relevant bodies resulted in an agreement on mortgage financing as the key factor in materialization of the project.

 

He said existing impediments in acquiring bank loans would be sorted out and the procedure would be simplified in consultation with banks.

 

The prime minister said in near future, CDA would be working on a plan for the development of all slum areas in the capital with the provision of modern amenities.

 

Prime Minister Imran Khan said the government was focusing on projects with a target of wealth creation to pay off heavy debt borrowed by the previous rulers.

 

He mentioned that the government’s incentives for the construction industry would not only ensure economic activity with the running of 30 affiliated industries but also generate employment.

 

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