Karachi: The government has loaned out PKR 3.35 billion for construction of 7,572 affordable homes around the country under Naya Pakistan Housing Programme – a news source reported on February 8. The government has allocated a total of PKR 5 billion to support low income groups for construction of their homes.
The beneficiaries of the project include families who cannot afford to construct their homes due to limited income and hail from all part of Pakistan including Multan, Kasur, Danyor, Attock, Lahore, Bhakkar, Kahna Nau, Bannu, Jahanian, Khanewal, Nowshera, Mianwali, Kasur, and Ghizar.
The government has also engaged Akhuwat, an organisation that was already running a vast network of interest-free loans for the construction of homes.
According to details, the recovery rate for these loans has been an impressive 100% so far. The amount so recovered is being reutilised to support more applicants. Currently 2,400 additional applications are under process for approvals.