PM Shehbaz launches 'PM's Apna Ghar Scheme'

Islamabad: Prime Minister Muhammad Shehbaz Sharif has launched 'Prime Minister's Apna Ghar Scheme' to provide affordable loans to low and middle-income groups to own their homes.

Addressing the launching ceremony in Islamabad today, he stated that loans of up to ten million rupees will be made available under this scheme, with a repayment period of twenty years.

He said for the first ten years, the markup rate will be five percent, after which standard market rates will apply for the remaining period.

The Prime Minister said the target of fifty thousand homes has been set for the first year, with a financing allocation of 321 billion rupees.  He said over the next four years, the target is to build five hundred thousand homes. He said the people can construct homes of up to ten marla under this scheme.

Shehbaz Sharif expressed the confidence that this housing scheme will give impetus to the industries and the economy, and open the doors for prosperity.

The Prime Minister said that he will personally review the scheme at least once in a month to ensure timely disbursements as well as remove obstacles.  He assured the procedure to obtain loans under this scheme will be simple.

Earlier, the Prime Minister also disbursed cheques amongst the successful applicants.