Islamabad: Prime Minister Muhammad Shehbaz Sharif has introduced the ‘Prime Minister’s Apna Ghar Programme’ aimed at facilitating low and middle-income groups in acquiring their own homes through affordable loans. During a ceremony in Islamabad, he outlined the scheme’s key features, including loans up to ten million rupees with a repayment span of twenty years.

According to Radio Pakistan, the programme offers a markup rate of five percent for the initial ten years, transitioning to standard market rates thereafter. The initiative aims to construct fifty thousand homes in its first year, backed by a 321 billion rupee financing allocation. Over the ensuing four years, the goal is to build half a million homes, with provisions for constructing residences up to ten marla.

Prime Minister Sharif emphasized the programme’s potential to stimulate industry and economic growth. He committed to personally overseeing the initiative monthly to ensure efficient loan disbursement and to address any challenges. The application process for obtaining loans is designed to be straightforward. The Prime Minister also distributed cheques to successful applicants at the event.