Pakistan
CM Maryam launches interest-free home loans scheme
Scheme targets individuals with 1 to 5 marlas of land in urban, 1 to 10 marlas in rural areas
Lahore: Punjab Chief Minister Maryam Nawaz on Wednesday rolled out the 'Apni Chhat, Apna Ghar' project, offering interest-free loans to help citizens build their own homes.
The scheme targets individuals with one to five marlas of land in urban areas and one to 10 marlas in rural areas, allowing them to secure up to Rs1.5 million without paying any interest.
Beneficiaries will have seven years to repay the loan, with monthly installments set at Rs14,000. The first three months come with a grace period, exempting them from any payments during that time.
In addition, the government will offer loans for purchasing land. This initiative is being introduced across six major districts of Punjab. Interested citizens can apply online or reach out to the helpline at 080009100 for further details.
Importantly, the government will cover all service charges, keeping banks out of the equation for this housing scheme.
Speaking at the inauguration, Maryam Nawaz emphasized the significance of homeownership, stating, "A home is a blessing, and we will soon make it a reality for everyone." She acknowledged the ongoing struggle to provide relief to those burdened by inflation.
Maryam also hinted at a forthcoming solar project, touted as the largest in history, promising a relief of Rs45 to 50 billion in electricity bills. She highlighted Punjab's leadership in development, noting that others are following its example.
The Chief Minister concluded by underscoring her commitment, mentioning her 16-hour workdays and the relentless efforts of her team to bring relief to the people of Punjab.