Banks ordered to expedite Apna Ghar Scheme loan approval process

Prime Minister Shehbaz Sharif on Thursday chaired a review meeting on the Prime Minister’s Apna Ghar Scheme, saying that strong public participation reflects growing confidence in the housing initiative.

Speaking at the meeting, the prime minister said the participation of a large number of citizens in the scheme was “highly encouraging” and that continued progress would help realise the dream of homeownership for a maximum number of people.

“If we continue at this pace, the dream of the maximum number of aspiring homeowners will be fulfilled,” he said, adding that the scheme would also boost the construction sector, support allied industries, and accelerate economic growth.

He directed authorities to further simplify the enrolment process and instructed the Ministry of Housing to work with the State Bank of Pakistan to make the application form more user-friendly. He also ordered banks to expedite approval of eligible applications.

The prime minister called for strengthening awareness campaigns nationwide and establishing facilitation desks at the district level to assist citizens in acquiring land documents more efficiently.
During the briefing, officials informed the meeting that Rs11 billion in loans have so far been disbursed under the scheme. They said participation had increased significantly following the simplification of rules in March, with 67,900 applications received nationwide.

Of these, 16,587 applications have been approved, while 3,146 applicants have received loan disbursements.

The meeting was further informed that the loan processing mechanism is being strengthened through a Digital Hub and facilitation desks, while the State Bank has directed banks to process applications within 15 days.

Officials also noted that recently passed legislation on condominiums and financial institution recovery would help remove legal bottlenecks in the housing sector. A dedicated digital portal has also been launched to monitor progress of the scheme.