Faisalabad: The State Bank of Pakistan (SBP) and the Faisalabad Development Authority (FDA) have agreed to strengthen coordination and expedite loan processing under the Prime Minister’s Apna Ghar Scheme to facilitate applicants seeking affordable housing finance.
The decision was made during a meeting at the FDA Complex, chaired by FDA Director General Muhammad Asif Chaudhry and attended by SBP Chief Manager Fouzia Aslam, senior FDA officials and representatives of commercial banks.
During the meeting, participants agreed to streamline administrative procedures and appoint dedicated focal persons from the SBP and FDA to improve coordination and ensure timely processing of housing finance applications.
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Fouzia Aslam said the low-cost housing initiative had received more than 76,000 applications nationwide over the past six months. More than 18,000 applications have been approved, while financing has been disbursed to over 3,000 successful applicants.
Under the scheme, eligible applicants can obtain housing finance of up to PKR 10 million at a subsidised annual markup rate of 5% for a period of up to 10 years to construct houses on plots of up to 10 marlas.
FDA Director General Muhammad Asif Chaudhry assured full administrative support for the programme, stating that all required formalities, including the issuance of no-objection certificates (NOCs), would be completed on a priority basis to facilitate applicants.
He said the initiative would help address the growing demand for affordable housing while supporting the construction sector, generating employment and contributing to economic growth.
Samra Zulfiqar, a real estate analyst at Zameen.com, is passionate about finding projects that offer buyers the best returns. Her keen insights spotlight the market’s most promising opportunities.
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