Prime Minister Imran Khan recently launched a housing project for government employees and the salaried classes under the Naya Pakistan Housing Program (NPHP). The project includes the construction of 88,000 housing units in apartments with a total cost of Rs 6.5 billion. As of now, 588 grey-structure housing units and 88 commercial units have been completed.
Under the housing program dedicated to government employees, housing finance options such as subsidised mortgages will also be provided to potential homeowners. This will increase the share of low-income housing finance loans and consequently increase homeownership amongst low and middle-income families.
Construction is a key player in the overall housing industry. In previous years, the incumbent government introduced several steps to give a boost to the construction industry by decreasing the cost of construction. However, the government needs to further invest in this sector to ensure the provision of affordable housing options to low and middle-income classes of the society.