A member of the Housing Committee of Economic Advisory Council (EAC), Arif Habib, says the construction sector of Pakistan has been returning 18%-20% profit annually for the last 20 years and thus it’s an attractive investment opportunity.
He talked about how people can benefit from the Prime Minister’s housing scheme.
Arif said that the housing sector is getting loans from banks at discounted rates, adding banks are giving 3%, 5%, and 7% interest rates to the builders and developers to invest in the construction sector.
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Talking to News360, Arif Habib said that Prime Minister Imran Khan wants a system in the banking sector so that every poor and middle-class citizen could easily get a loan for a house or an apartment.
To ease the procedure, Imran Khan has directed State Bank of Pakistan (SBP) to set special targets for all commercial banks for housing and construction sector loans.
Moreover, he said that now the low and middle class can get access to housing and construction loans easily.
He added that EAC is formulating a strategy in which poor and middle-class people would become homeowners after 20 years and uplift investment in the construction sector.
Answering a question, Arif said the scheme wouldn’t be canceled after the tenure of PTI government as all the political parties of the country have a manifesto and intention to facilitate the people.