Prime Minister Shehbaz Sharif is set to launch a new housing package under the Apna Ghar Scheme. The initiative aims to help citizens buy homes or residential plots through easy financing options.
Under the Apna Ghar Scheme, eligible applicants can get loans ranging from Rs2.5 million to Rs10 million. The repayment period is set at 20 years, making it easier for people to manage monthly installments.
The scheme offers four loan categories. These include Rs2.5 million, Rs5 million, Rs7.5 million, and Rs10 million. The loans can be used to purchase a 10-marla house or a residential plot of the same size.
A fixed markup of 5% will apply during the first 10 years. After that, a normal markup rate will be charged for the remaining period. This structure aims to reduce the financial burden in the early years.
Monthly installments have also been outlined. For a Rs2.5 million loan, the installment will be around Rs16,499. A Rs5 million loan will require about Rs32,999 per month. For Rs7.5 million, the installment will be around Rs49,499. The maximum loan of Rs10 million will have a monthly payment close to Rs65,999.
To apply under the Apna Ghar Scheme, individuals must hold a valid CNIC. Applicants should not already be in heavy debt. This condition ensures that loans go to those who need housing support.
The government will provide 90% financing under the scheme. Applicants will arrange the remaining 10% themselves. There is no upfront fee or advance payment required to apply.
Loans will be offered through Islamic banks, commercial banks, microfinance institutions, and house building finance companies. This wide network will improve access across the country.
Applications will be submitted online. Authorities aim to complete the approval process within one month. The State Bank of Pakistan and the Pakistan Housing Authority Foundation will oversee the program.
Officials say the Apna Ghar Scheme is designed to make home ownership easier. With long-term loans and reduced initial costs, the program is expected to benefit many families.
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The formal announcement of the package is expected today. Observers believe the initiative could provide relief to people looking for affordable housing options in Pakistan.
