ISLAMABAD (Web Desk) – The Prime Minister’s Apna Ghar programme has disbursed loans exceeding Rs5 billion to 1,845 individuals, as part of efforts to expand access to affordable housing across Pakistan.
Officials informed the National Assembly’s Standing Committee on Finance that subsidised loans would be extended for the construction of 500,000 homes over the next four years. Out of 25,304 applications received under the scheme, 8,990 have been approved so far, with a cumulative loan value surpassing Rs37 billion.
During the briefing, the Federal Secretary Finance, Secretary Housing and Works, and Secretary Law and Justice outlined the implementation framework of the Apna Ghar programme, along with proposed reforms in housing finance and foreclosure laws.
According to the Secretary Housing and Works, the programme is a subsidised housing finance initiative aimed primarily at first-time homebuyers. Under the scheme, applicants can obtain loans of up to Rs10 million at a fixed markup rate of 5%, repayable over a period of 20 years. The financing structure follows a 90:10 ratio.
The Ministry of Housing emphasised that reforms in foreclosure and recovery laws are essential to address banks’ concerns, boost investor confidence, and ensure sustainable growth in the mortgage finance sector.
Committee members noted that Pakistan’s housing finance sector remains significantly underdeveloped and requires structural reforms, improved foreclosure and recovery mechanisms, and a more conducive regulatory environment to encourage banks and financial institutions to expand mortgage lending.