ISLAMABAD – Prime Minister Shahbaz Sharif officially launched the “Apna Ghar” housing program, distributing bank cheques to eligible individuals for home financing.
Speaking at the ceremony, the premier said the scheme will cover all provinces, as well as Gilgit-Baltistan and Azad Kashmir. Under the program, loans of up to Rs10 million will be available for a period of 20 years to purchase or construct homes.
Minimum Monthly Installments
Loans will be offered in slabs of Rs2.5 million, Rs5 million, Rs7.5 million, and Rs10 million. A fixed markup of 5% will apply during the first 10 years, followed by a standard markup for the remaining period.
Monthly installments will range from Rs16,499 for the smallest loans to Rs65,996 for the largest.
Eligible borrowers must hold a national ID card and have no prior outstanding loans. Financing will cover 90% of the cost under the government scheme, with the remaining 10% borne by the individual.
Loans will be available through Islamic and commercial banks, microfinance banks, and the House Building Finance Company.
Prime Minister Sharif emphasized that providing homes to citizens is a priority and said the scheme’s total volume will be Rs320 billion, with an initial target of 50,000 homes.
He also noted that the scheme will stimulate construction, commerce, and overall economic growth, with regular monthly reviews to ensure its success.
