Islamabad: The federal government has expanded the scope of the Prime Minister’s affordable housing finance initiative, allowing Overseas Pakistanis and Non-Resident Pakistanis (NRPs) to apply for subsidised home loans under the programme.
According to the State Bank of Pakistan (SBP), the revised framework for the Wazir-e-Azam’s Affordable Government Programme (AGP) “Ghar Ho Tu Apna” has been approved, introducing new segments aimed at widening access to housing finance across multiple channels.
Under the updated policy, Overseas Pakistanis holding NICOP or POC will now be eligible for financing under the scheme at subsidised rates, marking a significant extension of the programme’s beneficiary base.
The government has also permitted financing for private developer-led housing projects under the scheme, enabling Participating Financial Institutions (PFIs) to extend credit for approved developments in addition to individual housing units.
As part of the revised implementation strategy, PFIs have also been allowed to arrange institutional financing for government employees through department-level bulk processing, streamlining access to home financing.
The SBP further stated that banks and the House Building Finance Company Limited (HBFCL) have been directed to complete credit approval processes within a maximum of 15 working days once a complete application is received, aiming to reduce delays in loan disbursement.
The housing finance initiative is part of the broader government effort to promote affordable home ownership. Earlier iterations of the scheme included financing for houses, flats, and construction on owned land, with subsequent revisions increasing property size limits and enhancing loan caps.
With the latest expansion, the programme is expected to improve access to subsidised housing finance for overseas Pakistanis while also supporting activity in the formal housing and construction sectors.
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