ISLAMABAD – The federal government expanded Prime Minister’s Apna Ghar Program by allowing Non-Banking Finance Companies (NBFCs) to participate in the housing finance scheme.
If implemented effectively, the expanded scheme could become a game-changer for millions of aspiring homeowners across Pakistan. The decision, approved on recommendation of Securities and Exchange Commission of Pakistan (SECP), is expected to open the doors of affordable housing finance to thousands of Pakistanis who were previously unable to secure loans through conventional banks.
Under the newly approved framework, NBFCs and Investment Finance Companies can now provide housing loans of up to Rs. 10 million (1 crore). Microfinance Companies have been authorized to offer loans of up to Rs. 5 million (50 lakh).
Borrowers will benefit from a fixed annual markup of just 5% for the first 10 years, making financing substantially more affordable for low- and middle-income families.
The biggest breakthrough comes for citizens living in remote and underserved areas, where bank branches are scarce. Since NBFCs have a wider presence across such regions, many people who previously lacked bank accounts or failed to meet traditional banking requirements will now be eligible to apply for housing finance.
The new framework allows NBFCs to collaborate with banks and other financial institutions, a move expected to speed up loan approvals and simplify the financing process.
PM Apna Ghar Program is designed to help families build a new house, complete an under-construction home, or purchase a ready-built property on affordable terms. Beyond providing housing, the initiative is also expected to stimulate Pakistan’s construction sector, attract investment, and generate employment opportunities.
With this latest expansion, eligible applicants can now access housing loans ranging from Rs. 2.5 million to Rs. 10 million under easier financing conditions, marking one of the government’s most significant efforts to improve access to affordable homeownership.
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