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Lucky Draw Of 1.6m Requests Under Naya Pakistan Housing Scheme On Cards

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ISLAMABAD– Naya Pakistan Housing Programme Chairperson retired Lt Gen Anwar Ali Hyder on Sunday said a lucky draw would be conducted against 1.6 million finalised loans applications they had received.

Speaking of the construction sector, Lt Gen Hyder explained that people in that industry were facing three major issues, including taxes, financing, and required approvals. However, the incumbent PTI-led government intended to provide convenience to the common person.

“Those who cannot reveal the sources of their money have been given an opportunity to invest until December 31,” he said.

Reiterating what Prime Minister Imran Khan had said Friday, when he had announced a subsidy worth Rs30 billion, he said loans would be offered at concessionary rates.

“Loans would be given at 5% interest rate to those who build 5-marla houses and at 7% to those who build 10-marla houses,” Hyder explained. Everyone would also be given the option of a loan under the Islamic banking system, he added.

The Naya Pakistan housing scheme chief said those with lower incomes would be given a sum of Rs300,000. “The private sector would have to take the lead in building homes in this industry,” he added.

Speaking of the requests for the Naya Pakistan housing scheme, he said a total of two million applications had been submitted so far and 1.6 of those had gone to the second stage after the National Database and Registration Authority (NADRA) employed certain filters.

“We will conduct a lucky draw of the requests,” he added.