Islamabad: The Public Accounts Committee (PAC) on Thursday was informed that the construction of affordable homes under the Naya Pakistan Housing Programme (NPHP) will begin in April, a news source reported. The secretary housing further stated that the government had set aside PKR 650 billion for public sector housing. He said that the private sector had pledged to invest PKR 830 billion for the said initiative.
The meeting was informed that eligible applicants could avail home loans up to PKR 500,000 and that PKR 3 billion had been issued for the construction of 800,000 housing units. It was further said that the State Bank of Pakistan (SBP) had collaborated with private banks to provide mortgage financing to the citizens concerned.
Representatives from the Housing Ministry said that Prime Minister (PM) Imran Khan had been informed about the progress on the housing initiative. They added that the approval process for the project was completed within three months.