The Naya Housing Pakistan Authority has approved requests for loans worth Rs46 billion so far, according to its spokesperson.
Asim Shaukat Ali, in an interview with private TV channel, revealed that the authority has received requests for loans worth Rs127 billion. He said that the process of disbursement is underway so far.
The project aims to generate Rs4,000 billion in economic activity in the country and create jobs for over 700,000 people. Ali shared the following statistics for the different provinces and regions.
In Punjab, The authority has approved projects worth Rs373 billion so far. Rs1,800 bn economic activity is expected to be generated. 322,000 jobs to be created.
In Sindh, Projects worth Rs270 billion approved. 200, 000 jobs to be created.
In Islamabad, Projects worth Rs175 billion approved.
Ali shared a house would cost around Rs2.7 million in urban areas, and Rs1.8 billion in rural areas.
People can apply for house loans using a single-page form. Right now only those who earn between Rs20,000 to Rs40,000 can apply for loans. The authority has received requests for approval of 210 housing projects, of which it has approved 48. Samaa TV reported.
He said that the government will just focus on delivery in the last two-quarters of the housing society’s construction.