Prime Minister Shehbaz Sharif chaired a review meeting of the 'Prime Minister Apna Ghar Scheme' and directed the authorities to provide further facilitation to citizens seeking to join the housing initiative.
The prime minister said the participation of a large number of citizens in the 'Apna Ghar Scheme' was highly encouraging. He said that if the current pace continued, the dream of home ownership for a greater number of aspiring citizens would become a reality.
He said the success of the scheme would stimulate activity in the construction sector, support industries linked to housing development and contribute to faster economic growth.
The prime minister directed the Ministry of Housing to work with the State Bank of Pakistan (SBP) to make the application form easier to understand and complete. He also instructed banks to expedite the approval process for valid applications submitted under the scheme.
PM Shehbaz has directed that the nationwide awareness campaign for the 'Apna Ghar Scheme' be intensified and facilitation desks be established at district level across the provinces to assist citizens in obtaining land-related documents.
The meeting was informed that loans worth Rs11 billion had so far been disbursed under the 'Prime Minister Apna Ghar Scheme'.
Officials briefed the meeting that, following the simplification of the scheme's rules and procedures in March this year, applications had increased significantly. A total of 67,900 applications had been received from across the country, of which 16,587 had been approved, while 3,146 applicants had received loan disbursements.
The meeting was further informed that efforts to provide housing finance on easy terms were being accelerated through the Digital Hub, facilitation desks and other measures.
The State Bank of Pakistan (SBP) has made it mandatory for banks to process Apna Ghar Scheme applications within 15 days. Participants were also informed that recently enacted laws relating to condominiums and financial institution recovery would remove legal hurdles in the housing sector and support further development.
A special digital portal has also been launched to monitor the progress of the scheme.
Federal ministers, senior government officials, the Governor of the State Bank of Pakistan, presidents and chief executives of Pakistani banks, provincial chief secretaries and representatives of relevant institutions attended the meeting.
