The PTI-led government must be given credit for launching the Naya Pakistan Housing Scheme which is aimed at strengthening the economically weaker segment of society. This scheme gives opportunity to people to buy homes at affordable prices. It will boost the country’s economy since millions of houses will be constructed under this scheme. The government has also established the Naya Pakistan Housing and Development Authority (NAPDHA) which will build five million homes across the country. It has also introduced a markup subsidy scheme. Potential homebuyers will obtain loans from commercial and Islamic banks and other financial institutions to purchase a home.
The government will help a lot in strengthening the country’s economy. There are millions of low-income households who can get housing loans under this scheme. However, there are a few things that the government should looked into. At present, micro finance banks are not entertaining applications received under this scheme. The government should instruct these institutions to start the work as soon as possible as these banks know how to manage smaller loans. They can play an important role in making the Naya Pakistan Housing Scheme a great success.
Ejaz Ahmad Magoon (FCA)
Lahore