One of the proven way to kick start the economy in any country is to start building. America did at the start of last century when they started building the Hoover Dam, and then many countries over the last centuries have done it by providing stimulus to the housing and construction industry. In Pakistan real estate is a good business, but the prices of houses are way out of reach of the common and low income people.
Nawaz Sharif has announced a new scheme of home loan for the poor in Pakistan. For the poor people, loan can be obtained up to 5 million rupees with 8 percent interest from the banks. The application form for the loan scheme of Nawaz Sharif are available online and they can be submitted in person with some witnesses. Not much red tape is involved here and the scheme looks good for the poor.
One of thing which needs to be kept in perspective is that such scheme must be transparent and fairly distributed among the masses of all four provinces including Punjab, Balochistan, Sindh, KPK, and also the scheme should be extended to the people in Gilgit Baltistan, Kashmir and FATA.
Government also needs to make sure that the loans are spent on the house building and also make sure that the return on investment is there and no commission games are played by the government servants.