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ISLAMABAD, Feb 10 (APP): President Dr Arif Alvi on Wednesday said the Prime Minister’s low-cost housing scheme would enormously benefit the underprivileged community of the country.

The scheme would not only generate economic activities but would also provide houses to the low strata of society at affordable cost, he added.

The President stated this at a briefing given by Chairman/ Executive Director Akhuwat Foundation Dr Muhammad Amjad Saqib here at the Aiwan-e-Sadr.

Besides, the Chairman of Akhuwat Foundation, the meeting was attended by Secretary Ministry of Housing and Works, Dr Imran Zeb Khan, and senior government officials.

Dr Muhammad Amjad Saqib briefed the meeting about the progress made by Akhuwat Islamic Microfinance with regard to construction of low-cost houses.

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He informed that 7,572 houses had been financed by Akhuwat and the recovery rate of loans was 99.9%.

He said that the Government of Pakistan had allocated Rs. 5 billion through the Ministry of Housing and Works to Akhuwat Islamic Microfinance which had disbursed Rs. 3.37 billion so far.

The President appreciated the efforts of the government and Akhuwat in financing housing schemes for lower strata of society.

He asked the Ministry of Housing and Works to disseminate information about the benefits of the scheme so that maximum people could get advantage