Low-income people given loans at only 2% service charges: PM Khan

Prime Minister Imran Khan visited Farash Town Apartments in Islamabad during which he announced the decision to provide low-income individuals with loans at services charges as low as two percent. 

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According to reports of Baaghi TV, Prime Minister Imran Khan was briefed on the ongoing development work on the Farash Town Apartments project under Naya Pakistan Housing Scheme. Prime Minister Imran Khan said that no one has ever helped low-income people, we spent 2 years and persuaded the banks to give loans. The middle and poor classes could not build houses, now the middle and poor classes will be able to build houses.

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Banks have started lending money to build a house, for the first time. Helping low-income people is a top priority for the government. The construction sector has been given a 90% tax exemption. The government is giving a subsidy of Rs.3 lakh for the first one lakh houses.

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The Prime Minister added that 4,400 apartments are being constructed in Farash Town of which 400 apartments have been reserved for slum dwellers. Meanwhile, one lakh houses are under construction. Efforts are being made to make the same installment as the rent, low income people will be given loans at only 2% service charges. The government has set aside a subsidy of Rs.35 billion to build affordable houses.

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Prime Minister Imran Khan had laid the foundation stone of the project in April this year.

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