Islamabad: Under the Prime Minister’s Apna Ghar program, loans exceeding Rs5 billion have been provided to 1,845 individuals. The standing Committee on Finance in the National Assembly was informed that discounted loans will be offered for the construction of 500,000 homes over the next four years. Of the 25,304 applications received, 8,990 have been approved, amounting to more than Rs37 billion in loans.
Federal Secretary of Finance, Secretary of Housing & Works, and Secretary of Law & Justice briefed the committee members on the implementation framework of the Prime Minister’s Apna Ghar program and proposed reforms to housing finance and foreclosure laws.
The Prime Minister officially inaugurated the “Apna Ghar” scheme and announced direct supervision of the program. In Punjab, the “Apni Zameen, Apna Ghar” initiative was launched, with a lottery awarding plots to 2,000 participants.
In his presentation, the Secretary of the Ministry of Housing & Works explained that the Prime Minister’s Apna Ghar program is a subsidized housing finance scheme that, for the first time, provides up to Rs10 million loan to first‑time homebuyers at a fixed markup rate of 5 % with a repayment period of 20 years, and a financing ratio of 90:10.
The Ministry of Housing clarified that reforms in foreclosure and recovery laws are essential to reduce banks’ concerns, boost investor confidence, and ensure sustainable growth of the mortgage finance sector.
The committee noted that Pakistan’s housing finance sector remains severely underdeveloped and requires structural reforms, improved foreclosure and recovery legislation, and a conducive regulatory environment so that banks and financial institutions can expand mortgage lending.
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