ISLAMABAD (Dunya News) - The Economic Coordination Committee (ECC) has approved key amendments to the government’s low-cost housing scheme.
The meeting, chaired by Muhammad Aurangzeb, granted approval to increase the loan limit under the Mera Ghar Mera Aashiana Scheme to Rs10 million.
According to the official statement, the ECC decided to fix a uniform markup rate of five percent for low-cost housing. Four-year enhanced targets for housing finance were also approved. The committee allowed continued implementation of the scheme through the State Bank of Pakistan and decided to bring already disbursed loans under the scheme to the same five percent markup rate.
The statement added that subsidy payments would be made in line with annual fiscal space. The provision of affordable housing is expected to boost the construction sector and create employment opportunities.
The ECC also approved a technical supplementary grant of Rs7.2 million to enhance agricultural productivity in rain-fed areas, as well as an Rs6.5 billion grant for the Thar Coal Rail Connectivity Project.
According to the communiqué, improved transportation of local coal will strengthen the energy sector and reinforce the strategy to reduce reliance on imported fuel.