LAHORE: Punjab Chief Minister Maryam Nawaz Sharif on Sunday pledged to make home ownership more accessible for low-income families across the province.
This announcement came during a meeting with Dr. Amjad Saqib, founder and chairman of Akhuwat, where they discussed social welfare initiatives.
Maryam Nawaz praised the social services provided by Akhuwat under Dr. Saqib’s leadership and highlighted his support of her efforts in the government’s electricity bill relief and the housing program, “Apni Chhat, Apna Ghar.”
She announced that this program, already underway in Punjab, aims to be the largest and most affordable housing project in Pakistan’s history.
Its primary goal is to provide housing for the economically weaker sections of society, with an emphasis on sustainability and eco-friendliness.
The program will also feature government subsidies to lessen financial burdens on the public, with easy monthly installments for beneficiaries.
It is expected to generate employment and significantly improve the living conditions of countless families.
One of the program’s innovative features is offering interest-free loans for home construction, marking it as a major initiative for housing in Pakistan.
Residents can apply for loans up to Rs1.5 million, covering plots up to 10 marlas in rural areas and 5 marlas in urban areas. The monthly repayments for these loans are set to be around Rs14,000, with no interest charged.
For urban centers, the program plans to construct four-story flats on government land, which will be allocated through a lottery system and payable in easy installments.
Additionally, in private housing schemes, homes ranging from three to five marlas will be available, with the government providing a subsidy of up to Rs 1 million per home.
Homebuyers in these schemes can become owners by paying off the balance over five years.
Dr. Amjad Saqib commended Chief Minister Maryam Nawaz for her commitment to addressing the needs of the common man through such significant housing initiatives.
