WHEN a housing scheme was launched by the federal government in 2016, thousands of government employees dreamed of having their own modest home. For a large number of allottees in Islamabad’s F-14 and F-15 sectors, that dream is steadily becoming a nightmare.
Most of the allottees happen to be retired government employees living on fixed incomes, pensions or retirement benefits.
Instead of providing them relief and dignity, the current payment schedule has become an overwhelming financial burden. The housing scheme has three categories of plots of land I, II and III.
The cost of these plots of land is Rs20.25 million, Rs14.42 million and Rs11.02 million, whereas quarterly instalments are worth Rs1.31 million, Rs951,500 and Rs718,000, respectively. Most pensioners simply cannot afford to pay these instalments on time. To mal(e matters worse, one per cent surcharge for delayed payments furtherincreases the ñnancialstrain.
As a result, many allottees are left with no option,but to selltheirland at prices that primarily benefit the investors and speculators rather than the original beneficiaries. Consequently, a housing scheme intended to help government servants is gradually becoming a business opportunity for those with greater resources. The housing scheme, which was for the welfare of the employees, has now become a financial burden for them.
The government should review the payment mechanism for the allottees.
Practical measures, such as reducing instalment amounts, extending the payment period, waiving or substantially reducing late payment surcharges for genuine hardship cases and providing targeted subsidies or concessional financing for retired employees would help.
Muhammad Salim Islamabad