Govt to spend Rs18bn to address urbanization challenges
In order to address the issues arising from rapid urbanization, the government has announced to spend around Rs 18 billion during the current fiscal year for physical planning and housing sector programs.
As per an official document, Pakistan has the highest rate of urbanization in South Asia, and as per the Population Census of 2017; urbanization had increased from 32.52 percent to 36.38 percent from 1998 to 2017.
The federal government has also announced relief packages for construction and agriculture sectors and a subsidy of 30 billion rupees under the Naya Pakistan Housing Scheme. The provincial governments also announced relief packages for vulnerable people and exemption in taxes.
In addition, the Naya Pakistan Housing and Development Authority (NAPHDA) had been established for undertaking the Prime Minister’s Programme for the construction of five million affordable houses to the general public.
A special relief package for the construction industry had been announced by the government to boost construction activity.