KARACHI: House Building Finance Corporation Chairman Zaigham Mahmood Rizvi said he has planned to double its loan percentage as compared to last year.

He said this while addressing the media at the Karachi Expo Centre where the “3rd Build Asia 2007” is being held.

Rizvi said he has commenced a new program called “Small builders support programme” for small builders so that they may also play their role in the presence of big corporate constructions in the country.

“We have also introduced a programme for “Saving and Loan” for our youth. After opening an account with us if someone saves Rs10,000 per month for five years, we will give him three to four times the loan amount he has saved.”

He said in next five years, prices of property would hike two fold and therefore with this scheme the young people are not only be able to save money but they also will be able to plan their future in advance.

Speaking on the event, National Engineering Services Pakistan Pvt Ltd General Manager Mumtaz Javed Shabbir said: “The October 8 earthquake taught us the lesson that Pakistan’s construction quality is vulnerable and therefore improvement is required in the quality standards.”

It is very difficult to predict earthquake therefore the quality of construction of the building must be improved in the country, he said.