The news is by your side.

HBFC Employees urges Prime Minister Imran Khan to take back decision of privatization


House Building Finance Corporation (HBFC) Employees on Thursday staged protest at Karachi Press Club over the proposed privatization of institute and demanded for taking back the order of privatization of profitable organization.

They stated that this is one of the only organization of government for housing sector whose basic aim is to facilitate middle and lower class citizens to get their own home.

Mehtab A. Siddiqui shared that since 1952 HBFC have helped millions of citizens to get their own home and to live their life in a better way.

Moreover he added these types of institutions are running all around the world and they have the supervision of governments.

General Secretary HBFC Workmen’s Union of Pakistan said that HBFC is implementing on the vision of Prime Minister Imran Khan of providing houses to the homeless citizens.

He asked that this is one of the profitable institution and there is no need of its privatization.

He stated that citizens have hoped from this organization as there is no other institution which is helping citizens to get their own house.

In case of HBFC privatization employees will lost their jobs, pension of pensioners would affect and millions of people who are working on housing sector would be unemployed, he added.

Joint Action Committee of HBFC members said that in 2018 HBFC got profit of more than 1 .40 Billion and in 2019 the profit of HBFC was more than 2.706 Billion rupees due to this there is no justification of its privatization.

They added that, This Institution if providing loan with lowest markup of 4 to 12 percent and this organization have assets in Karachi, Peshawar, Gawadar, Islamabad , Hyderabad and Lahore.

Protestors revealed that Some Notable Business Tycoons are doing efforts to purchase HBFC to provide loans on a highest markup.

Further they asked that from that 70 years HFC is working and it is not a burden on government as there is no amount allocated in a budget.

They informed that the Government is providing bailout packages to various organizations for their financial stability but HBFC is a financially stable department.

At last they demanded Prime Minister of Pakistan for inquiry on the decision of HBFC privatization decision as it is one of the profitable institute.

Joint Action Committee Members Saleem A. Siddiqui, Mehtab A. Siddiqui, Khalid Qadri, Faheem Qureshi, Moin Khan, Noor ul Haq , Akbar Baig and Ali Haider urged Prime Minister of Pakistan Imran Khan to take back the said decision of privatization on an immediate basis.

Leave A Reply

Your email address will not be published.