ISLAMABAD: The number of applications for the Prime Minister’s Apna Ghar Housing Scheme has increased by 52 percent since June, reaching 139,000, according to an official statement issued after a meeting of the Access to Finance Steering Committee.
The meeting, chaired by Finance Minister Muhammad Aurangzeb, reviewed progress on the housing programme and other initiatives aimed at expanding access to financing.
According to the statement, the number of loans disbursed under the Apna Ghar programme has also increased by 59 percent, reflecting growing demand for housing finance.
Meanwhile, financing approved under the Zarkhez scheme has crossed Rs7.2 billion, the statement said.
During the meeting, Finance Minister Muhammad Aurangzeb directed officials to identify obstacles affecting access to financing and present them to the steering committee along with clear recommendations for addressing them.
Officials briefed the meeting on ongoing measures aimed at promoting housing finance and improving access to credit for citizens seeking to purchase or build homes.
The government said the initiatives are intended to expand housing finance and make financing more accessible to eligible applicants.
Apna Ghar Scheme: New Reforms Announced to Speed Up Housing Loans
Last month, the federal government has announced enhanced facilitation measures under the Prime Minister’s Apna Ghar Scheme aimed at making the housing finance program more accessible and efficient for applicants across the country.
Prime Minister Shehbaz Sharif, during a review meeting on the scheme, urged the officials concerned to make the application procedure easier for citizens to apply for housing loans.
The Prime Minister said that it is good news that more and more citizens are availing of the benefit offered by the scheme because through this, people can achieve their dream of acquiring a house for themselves and also will play an important role in stimulating construction and other industries to grow.
In this regard, the Prime Minister has ordered the Ministry of Housing to collaborate with the SBP to develop improved forms for applying for the facility. In addition to this, he ordered all banks to quickly process applications from deserving candidates.
Authorities have been directed to intensify nationwide awareness campaigns to encourage wider participation in the scheme. In addition, provincial governments have been asked to establish facilitation desks at the district level to assist applicants with land documentation and related requirements.
During the briefing, it was stated by officials that the initiative has so far provided 11 billion rupees’ worth of loans, having received 67,900 loan applications in total. 16,587 of those applications have been approved, whereas 3,146 people have been provided their loans.
In this regard, the government once again made its stance known about ensuring access to affordable housing and promoting the construction industry as an economic driver.
