Islamabad (Web Desk): Minister for Information and Broadcasting Senator Shibli Faraz has said that the government is making all out efforts to mitigate hurdles being faced by the construction industry.
Addressing a news conference along with Chairman Naya Pakistan Housing Authority Lieutenant General (retd) Anwar Ali Haider, Faraz urged the people to take advantage of the government's new construction policy by 31st of December. He said people availing this facility will not be asked about their source of investment.
The minister said a committee has also been formed to solve issues related to construction industry. He said government has devised a one window operation to reduce the process time required for clearance of documents.
He said people, who desire to construct their homes by borrowing from banks, will be given loans at a subsidized interest rate.
Shibli Faraz said the interest rate of five marla houses will be five percent whereas for ten marla houses it will be seven percent. He said government has asked the banks to dedicate about 330 billion rupees of their lending for construction industry.