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Employees Protest against possible privatization of HBFC


House Building Finance Corporation-HBFC Employees on Thursday staged protest in front of FTC Building at Shahrah e Faisal over the decision of the government regarding privatization of the department.

Protested Employees urged Prime Minister of Pakistan Imran Khan for taking back the decision of HBFC privatization and stated that it is one of the most profitable departments of state.

Mehtab A.Siddiqui Member of Joint Action Committee stated that HBFC is the only department for the Housing Sector which works under the government, whose basic aim is to provide help to the poor citizens in purchasing their own house.

Today Millions of citizens are spending their life in well manner because of HBFC, whereas these types of the department are working under the government all over the world, he added.

Moreover, he informed that HBFC is working on the vision of Prime Minister Of Pakistan “Home for homeless people”.Privatization is actually a conspiracy because there is no reason for its privatization as it is a financially well stable institution and it is not a burden on the government.

Further Mr. Siddiqui shared that, HBFC is hope for homeless people because no institution exists in the country like it.

It was also mentioned in the press statement, The privatization of HBFC would affect the employees in the form of losing their regular jobs, however, it will also affect pensioners as well as the business of citizens who involved in the housing industry business.

At last Members of Join Action Committee including Saleem A. Siddiqui, Mehtab A.Siddiqui, Khalid Qadri, Faheem Qureshi, Moin Khan, and Noor ul Haq urged Prime Minister of Pakistan for taking back the decision of HBFC Privatization.

It was learned that the HBFC formed in 1952 by the act, whose basic aim to provide loans to the citizens in the purchasing and construction of houses. Whereas the Privatization Commission Board on 26th August decided to include HBFC along with other institutions in the list of privatization.

1 Comment
  1. Bushra kanwal says

    Very well written good job Bilal Zafar Salongi

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