On Thursday, Prime Minister Imran Khan lamented that the country’s economy had been mismanaged in the past.
The Prime Minister was laying the foundation stone of Farash Town Apartments in Islamabad on Thursday under the New Pakistan Housing Program.
He said that in the past such loans were taken which increased the debt burden instead of creating wealth.
The Prime Minister said that the government was focusing on wealth creation schemes to repay the country’s debt.
He said that these include Ravi City and Central Business District of Lahore while talks are underway with Sindh government for the development of Bundel Island. He is confident that these projects will attract huge investments.
He said that projects under New Pakistan Housing Scheme would be implemented and 30 industries related to construction sector would also be developed.
Talking about apartments in Farash Town, the Prime Minister said that a plan has been drawn up to transform the slums and equip them with modern facilities, including sanitation and sewerage. He said that houses would be given to the slum dwellers on property rights.
The apartments are expected to be completed in two years.
He said that mortgage facility has been introduced to provide easy installment loans to the people so that they can build houses. Talks are underway with banks to remove any obstacles, he said.