Islamabad: Prime Minister (PM) Imran Khan on Sunday instructed all banks participating in the Naya Pakistan Housing Programme (NPHP) to make it easier and accessible for the applicants to obtain loans under the subsidised markup home finance scheme, according to news sources.
Addressing a live telethon, the PM termed NPHP as the ‘most important project for the country’s future’ and urged the State Bank of Pakistan (SBP)’s governor and president of National Bank of Pakistan (NBP) to facilitate people in obtaining loans.
He went on to say that for the first time in Pakistan, salaried individuals were being offered a chance to own a house. He further said that once NPHP applicants start construction of their homes, there will be boom in the construction industry – which will uplift the economic condition of Pakistan.
In a related development, PM Khan announced the government’s decision to increase the scheme’s loan limit by 100%, whereas the discounted markup rate has also been reduced to 3% and 5%.