Under the scheme, 135,000 housing units would be constructed in the first phase across the country. In the initial phase of the scheme, 110,000 housing units will be constructed in Balochistan for the fishermen and the government employees whereas 25,000 units will be built in Islamabad and Rawalpindi at four sites for the government employees.
Addressing the ceremony, Khan said that transforming Pakistan into a welfare state is one of his dreams, adding that raising the downtrodden class is state''s responsibility. Housing did not feature high on his priority list originally but an incident changed his way of thinking about the industry.
"My first priority was health, education and employment," said Khan, adding that the country is facing shortage of 10 million houses but the salaried class finds it difficult to own houses. While terming it an ambitious target, Khan said that it is the responsibility of a welfare state to reduce poverty and raise the living standards of poor segment of society.
The Prime Minister said that Pakistan''s 210 million population means that its housing sector is seen as an attractive market for the investors. He said that though there is a need to control the population growth, at the same time it is an asset where 60 percent of population is below 30 years of age.
He further said that investors are lined up to come in while the government is also trying to bring in the private sector and help young entrepreneurs and youth enter the housing market, he added.
The plan is to turn the country''s slums into high-rises via a revolutionary new construction mechanism invented by the Chinese. No one had ever thought what would happen to the slums (katchi abadis), Khan said, adding that 40 per cent of Karachi''s populace dwells in slums. "A Chinese company has told me that it can make prefabricated homes and build one floor in just one week so just imagine what they can do for us," Khan added.
"We will give them land, they will swiftly construct flats and all slums will get converted into high-rises," the PM added. He further said that housing schemes would be launched in different cities of the country.
"I was never confused about my vision for the country," he said and added, "We will follow the model presented by State of Medina." He further said that in a welfare state, the government has to take responsibility of the weaker sections of society. "It is not easy but it''s my vision," he said, adding that he has had a very clear vision about Pakistan being a welfare state since the beginning. The Prime Minister said that former rulers left the country bankrupt but due to God''s blessing, the country is overcoming this difficult time. "I only follow the right path, success comes from God," he said.
"God wants us to have a realisation about the common man," the Premier said, lamenting that the education and health sectors in the country do not allow the marginalized groups to succeed. The PM came down hard on the government''s critics while saying those who failed to deliver, are now criticising the government.
He also criticised the system while saying that status quo and powerful who take benefits from the old system are main hurdles in the way of change as well as reforms. He further said that such people are also sitting in Federal Board of Revenue (FBR) and making hurdles in introducing reforms and change.
He said these people took money outside the country due to which rupee became weak and imports became expensive, which is resulting in higher inflation in the country. He said that due to this ''status quo'', burden of loans increased from Rs 6 trillion in 2008 to Rs 30 trillion.
Finance Minister Asad Umar said if the federal government comes close to building 5 million houses, it would be the biggest economic project in the history of Pakistan. He said that State Bank of Pakistan (SBP) has prepared a comprehensive plan and got it approved from the Prime Minister. The government has allocated Rs 5 billion to revolving fund to facilitate low-cost housing units for the poor segment, said the minister, adding that the housing scheme would help revive 40 industries, besides providing a helping hand in provision of jobs to young people.
He said that Imran Khan is laying the foundation of a ''new Pakistan'' and if foundation is strong, the building, too, would be strong. Umar paid tribute to Housing Minister Cheema for his efforts regarding the project. He said that the housing minister, who is even not from Islamabad, made personal efforts for this project of the federal capital and asked the government to approve a supplementary budget for this project.