IMF loan is being taken to bridge deep external financing gap
ISLAMABAD: Prime Minister Imran Khan on Wednesday, while launching ‘Naya Pakistan Housing Project’ vowed to steer the country out of the prevailing crisis and get the affairs in order.
Speaking at the launch of the housing scheme at Islamabad, the prime minister defended his government’s decision to seek the IMF loan, saying it is being obtained for a short period to bridge deep external financing gap.
Acknowledged the public’s woes in view of the recent dip in the currency and mounting debt, PM Imran defended his government’s decision to approach the International Monetary Fund for loans.
“We want loans so that we can pay off the loans,” he said, adding that “if the money laundering had been prevented then there would have been no need for loans”.
He said the government would need three to six months to set the house in order.
“Stay strong. It is [only a temporary] phase. I will steer the country out of these [difficult] times,” he promised.
Prime Minister Imran Khan launched the ‘New Pakistan Housing Project’ at a ceremony in the federal capital on Wednesday.
Speaking at the ceremony, the premier said the government is committed to ensuring provision of five million affordable houses for under-privileged classes during the next five years.
The Prime Minister expressed confidence that the programme would not only provide affordable housing to the poor but also create employment opportunities in the country. The project will also attract local and foreign investment, he said.
A special housing authority would be established in three months to serve as one window for all construction-related formalities. A task force would look after the housing project until then.
A National Financial Regulatory Body would also be set up in two months to remove hurdles in financing of construction of houses, the premier announced.
Registration for the houses will begin from tomorrow with the cooperation of National Database and Registration Authority (NADRA), which has been tasked with collecting data to identify those in need.
Areas where low-cost houses can be built, will also be identified. The private sector has reportedly been made part of the housing project to give recommendations on completing the project in five years.
Initially, the pilot project will be launched in seven cities which include Faisalabad, Sukkur, Quetta, Dera Ismail Khan, Islamabad, Gilgit and Muzaffarabad.