Prime Minister Shehbaz Sharif has launched a major housing initiative worth Rs3.2 trillion. The program aims to construct 500,000 affordable homes across Pakistan within five years.
The launch ceremony introduced the “Apna Ghar” housing scheme. Officials designed it to support low-income families lacking financial resources for home construction.
Year-One Target and Funding Plan
In the first year, the government plans to finance 50,000 houses. For this purpose, it has allocated Rs321 billion.
Over the full five-year period, funding will support half a million housing units. As a result, the total allocation will reach Rs3.2 trillion.
Economic Impact and Job Creation
Prime Minister Shehbaz Sharif said the program will do more than provide housing. It will also stimulate industrial growth and create employment opportunities.
In addition, he noted that the initiative will benefit multiple sectors, including construction, manufacturing, and engineering.
He emphasized that the program will support workers ranging from laborers to skilled professionals.
Nationwide Coverage of the Scheme
The Prime Minister confirmed that the program will not be limited to Islamabad. Instead, it will extend to all four provinces, as well as Azad Jammu and Kashmir and Gilgit-Baltistan.
This nationwide approach aims to ensure equal access to affordable housing.
Loan Structure and Repayment Terms
Officials structured the program with a 20-year repayment plan. The markup rate will remain 5% for the first ten years.
After that period, market-based rates will apply. This structure is designed to make housing loans more accessible for low-income groups.
Government Vision for Housing Development
The Prime Minister described the initiative as a key responsibility of the state. He said providing shelter to citizens remains a core duty of any government.
Moreover, he linked the program to earlier housing efforts, highlighting continuity in policy direction.
Strengthening Social and Economic Stability
Overall, the “Apna Ghar” initiative aims to address Pakistan’s housing shortage. It also seeks to strengthen economic stability through large-scale development activity.
As a result, the program is expected to deliver both social and economic benefits across the country.
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