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ISLAMABAD: Prime Minister Imran Khan on Friday held a balloting for low-cost apartments in Farash Town, Islamabad.

The PM said the government was fulfilling the dream of the poor to buy their own house.

The premier directed that transparency be ensured in allotment of houses.

The model of high-rise construction should be adopted to curb the growing population and the chaotic spread of cities, he said, adding the Farash Town project was being completed in partnership with the New Pakistan Housing and Development Authority and the CDA, which consisted of 2,000 low-cost apartments.

The price of an apartment has been fixed at Rs32 lakh, of which, Rs3 lakh will be provided by the government subsidy, which will reduce the cost per unit to Rs29 lakh. The project is being completed with the special interest of the prime minister to fulfil the dream of the poor and middle class to buy their own house in Islamabad.

Private banks are also providing easy instalment loan facility for buying apartments.

The monthly instalment will be Rs13,000, while the market rate will be Rs38,000.

Punjab Chief Minister Sardar Usman Bazdar and Minister of State Farrukh Habib were also present on the occasion.

Copyright Business Recorder, 2022

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