ISLAMABAD: The federal government has simplified the application process for the Apna Ghar housing scheme by reducing the number of required documents from 25 to just five, making it easier for citizens to apply for housing finance.
According to details, the government has also set a maximum processing period of 15 working days to speed up the loan approval process and facilitate applicants seeking housing finance.
The decisions were taken during a high-level review meeting chaired by Prime Minister Shehbaz Sharif.
During the meeting, the prime minister directed the relevant authorities to further simplify the application procedure and provide comprehensive guidance and assistance to citizens in obtaining the property ownership documents required for housing finance.
Shehbaz Sharif also directed the State Bank of Pakistan and the relevant ministries to consult all stakeholders and submit final proposals by the end of October to improve the availability of loans for housing, agriculture and small businesses.
Agricultural and Business Loans Reviewed
The meeting was also briefed on progress under other ongoing government loan schemes.
Agricultural credit has increased to Rs1,352 billion according to the report. The goal of the government is to bring the total amount of agricultural credit to Rs1,500 billion by June 2027 while increasing the beneficiaries to 4.5 million farmers.
On the other hand, over 352,000 SMEs have already been provided with loans amounting to Rs1,137 billion.
The government aims to increase the finance to businesses to Rs1,500 billion by June 2027 while covering 575,000 businesspersons under this program.
The Apna Ghar scheme is being simplified in order to ease down the process of paperwork and make loans easily accessible to citizens for housing finance.
