Over 1,800 beneficiaries receive loans under Pakistan’s ‘Apna Ghar’ Housing Scheme

ISLAMABAD: Under the government’s ‘Prime Minister Apna Ghar Programme’, loans worth over Rs5 billion have been disbursed to 1,845 individuals, officials told the National Assembly Standing Committee on Finance.

The committee was informed that under the broader housing initiative, 5 lakh homes will be supported through subsidised loans over the next four years.

Officials said that out of 25,304 applications received so far, 8,990 have been approved, with total sanctioned financing exceeding Rs37 billion.

Briefings were given by the Secretary Finance, Secretary Housing and Works, and Secretary Law and Justice regarding the implementation framework of the programme as well as proposed reforms in housing finance and foreclosure laws.

The Ministry of Housing and Works said the scheme is a subsidised housing finance initiative aimed at first-time home buyers, offering loans of up to Rs10 million at a fixed interest rate of 5 per cent with a repayment period of 20 years and a financing ratio of 90:10.

Officials stressed that reforms in foreclosure and recovery laws are necessary to address concerns of banks, improve investor confidence, and support sustainable growth in the mortgage finance sector.

Committee members noted that Pakistan’s housing finance sector remains underdeveloped and requires structural reforms, improved legal frameworks, and a more supportive regulatory environment to encourage lending by banks and financial institutions.