China has become a superpower by eliminating poverty: Imran Khan

Islamabad: Prime Minister Imran Khan has said that China had become a superpower by eliminating poverty.

“China worked towards raising the standards of the poor people. Now China is a superpower,” said PM Khan while speaking at the Islamabad Chamber of Commerce and Industry (ICCI)’s Pakistan Property, Housing and Construction Expo 2021.

PM Khan said with introduction of housing finance facility by the government for the low-income group, the country’s 220 million population would become an asset as the construction of houses would positively impact all allied industries.

Exemplifying China, he said China had steered around 800 million people out of poverty by uplifting the poor.

The Prime Minister said in Pakistan too, the perks and facilities were limited to a specific class like English medium schools and private hospitals which consequently compromised the quality of public sector facilities. The PM told the critics that systemic reformation was in fact the change of mindset requiring a constant struggle.

He said Finance Minister Shaukat Tarin, who came from the private sector, was cognizant of the problems faced by the construction industry which provided most of the employment opportunities. He said the promotion of construction industry would lead to the wealth creation and revenue generation as well brining about the export boom.

Minister of State for Information Farrukh Habib, Special Assistant to PM Dr Shahbaz Gill, Chairman Naya (new) Pakistan Housing and Development Authority Lt General Anwar Ali Haider (retd) and President Islamabad Chamber of Commerce and Industry Sardar Yasir Ilyas attended the event.

The expo featured the pavilions of the commercial banks, Board of Investment, State Bank of Pakistan, companies and businesses related to the construction industry, including real estate developers, marketing firms, cement, marble, tiles, electronics, cable and many others.

Moreover, the educational institutes had also presence there as the event also aimed at promoting the industry-academia linkage.

PM Khan said the government had supported the construction industry and will continue to give incentives to.

“The growth of the construction industry is key for achieving the goal of an economically stable Pakistan,” he said.

The Prime Minister said Pakistan’s economic growth heavily relied on the construction sector as it benefits other industries as well. “It will decrease unemployment, boost wealth creation and will also help us repay our debts,” he added.

He said the government housing schemes will also benefit the industry as well as the people belonging to the lowest segments of society.

“A daily wager, a class 4 government servant, a labourer.. people like them in Pakistan could never get an opportunity to buy a house because there is no concept of mortgage financing,” the premier said.

He added: “We spent two years to get the foreclosure law passed and now it is opening the way for banks to lend people loans under mortgage financing.”

He said the system will become an asset for Pakistan as it will boost the demand for house-building and the construction industry will benefit from it.

PM Imran said the government is focused on raising the standard of life of the poor and weak, adding that it understands that any country, where there is a small number of very rich people and most people are poor, can never prosper.