KARACHI, Sept 10: Federal Housing and Planning Minister Syed Safwanullah has said that the House Building Finance Corporation has played a key role in promotion of construction industry in the country during the last half century and stressed the need for further strengthening of this organisation.

He was addressing as chief guest at the oath taking ceremony of HBFC Workmen Union of Pakistan and annual dinner held on Saturday night.Mr Safwanullah said that the objective of HBFC establishment was to provide housing facilities to the people of average and low income groups. “HBFC is not only a financial institute but also a welfare organisation which supports the people belonging to average and low income groups,” he remarked and stressed that those taking loans should also demonstrate a sense of responsibility in repaying the same so that more loans could be extended to the ones in need for building their houses.

Referring to the HBFC’s unpaid loans of Rs12 billion, he said if people would return this amount, the same would be used for provision of housing facilities to more people besides it would also generate employment opportunities.

The federal minister pointed out that more than 40 industries were attached with construction related activities and therefore when a construction project was started employment opportunities were created for people associated with all these industries.

Earlier, HBFC Chairman Zaigham Mehmood Rizvi highlighted the performance of the organisation.—APP