Prime Minister Imran Khan Thursday announced that his government is going to declare concealing of land and property a criminal offence in the country in order to tighten the noose around the people who have become billionaires through concealing properties. Speaking at the inaugural ceremony of international housing moot, the Prime Minister said that a major housing project to build five million units, mainly for low-income groups, will be launched in April to cope with the shortage of around 10 million houses in the country.
About declaring concealment of properties a criminal offence, he elaborated that the decision in this regard was taken at the last meeting of the federal cabinet.
"Over recent months, we've retrieved occupied land worth Rs 500 billion just in the federal capital...people have become billionaires by occupying lands and hiding properties. Till date, property and holdings are being hidden from the government," he said.
Reiterating his party's commitment to providing low-cost housing units across the country, he said that State Bank of Pakistan and the World Bank are providing valuable assistance to efforts to achieve the government's target of five million housing units.
"In Pakistan, there is a demand for 10 million houses. We have set our target at five million but even that is an ambitious one considering the lack of infrastructure," he added.
He said the government is looking towards the private sector to engage actively in the low-cost housing initiative. "We want the private sector to participate and want young entrepreneurs to contribute. Chinese and Malaysian companies have expressed interest in housing projects here, while the response from overseas Pakistanis has also been positive."
"This initiative will have multiple positive impacts on the economy since more than 40 other industries are directly related to housing," said Khan.
The Prime Minister also shared his government's plans for the uplift of slums. "There has never been any planning for slums. There are no facilities for the poor and, usually, boundary walls are raised around them to keep them out of the elite's view. We are introducing a plan to regularise these settlements, and are looking to adopt the model of India and Turkey."
He also spoke about the shift towards vertical construction. "We have to allow housing to grow vertically. Our arable land is being used up and it threatens our food security. We will encourage more vertical constructions. Singapore is the best example and our task force is learning from them," he said. A memorandum of understanding has been signed between the government and the World Bank for cooperation in housing sector.
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