ISLAMABAD – The Securities and Exchange Commission of Pakistan (SECP) has introduced new measures to expand access to housing finance under the Prime Minister’s Apna Ghar Programme, making it easier for citizens to obtain home loans.
On the recommendation of the SECP, non-banking finance companies and housing finance companies have been included in the government’s housing scheme after formal approval from the federal government.
According to the SECP, non-banking housing finance and investment finance companies will now be able to provide loans of up to Rs10 million.
This step is aimed at improving access to housing finance for a larger segment of the population.
Officials said that citizens who do not maintain traditional bank accounts will also be able to benefit from easier housing finance facilities under simplified conditions.
They further added that microfinance companies will be allowed to provide loans of up to Rs5 million under the Apna Ghar Scheme, further widening access to affordable housing finance options.
