PM committed to make Pakistan a welfare state: Shibli

ISLAMABAD (92 News) - Speaking in the Naya Housing telethon Senator Shibli Faraz said that Prime Minister Imran Khan is committed to make Pakistan a welfare state.

He said that Prime Minister's scheme for low cost housing is aimed at provide housing facilities to the common people. He said that the success of the scheme depends on the role of the banks. The government is ensuring that banks facilitate the people without any difficulties.

State Bank of Pakistan (SBP) Governor Raza Baqir, National Bank of Pakistan President and Naya Pakistan Housing Authority Chairman Lt Gen Retd Anwar Ali Haider, Executive Director State Bank Samar Hasnain participated in the telethon.

Speaking on the occasion, Lt Gen retired Anwar Ali Haider said that process of providing loans to the people under the prime minister's low cost housing scheme has begun.

Meanwhile, Raza Baqir said that the SBP has an important role in the low cost housing scheme as it ensures that the banks provide loans to the people as directed by the government. He said earlier in Pakistan the contribution of commercial banks in provision of loans for housing sector was less than one percent of the economy.

He also said that the State Bank will determine the issues due to which the banks were not providing loans to the people for construction of houses and resolve those issues. He said that the banks have increased the loans up to 42 billion rupees in a few months for which 40 billion applications have been received so far. He said that due to the Prime Ministers scheme now people can get loans worth one million, which they can pay back in monthly installments worth 6600 rupees.

On the other hadn, Arif Usmani said that National Bank is facilitating people to get loans for construction of houses and for this purpose 1500 branches of NBP are providing information to the people, whereas 680 branches across the country are processing the applications for loans.