Islamabad: Naya Pakistan Housing Programme (NPHP) Chairman Lt Gen (retired) Anwar Ali Hyder on Sunday revealed that successful applicants of the 1.6 million loan applications received for the project will be determined through a lucky draw, according to news sources.
Regarding the construction sector, Hyder said that people associated with this industry are facing three major challenges; taxes, financing and obtaining necessary approvals. He said that the incumbent government, however, is working to alleviate these issues.
The NPHP chief also said that people with lower incomes will be given PKR 300,000 as loans and added that the private sector will have to play a leading role in the development of these low-cost homes.
Moreover, the chief revealed that some two million loan applications were received for the NPHP homes, out of which 1.6 million were approved for the second stage. These chosen applications were verified by the filters employed by the National Database and Registration Authority (NADRA). A lucky draw will be conducted for these applications, he concluded.