PM launches Rs321bn “Apna Ghar” housing scheme for 500,000 homes

Prime Minister Shehbaz Sharif on Thursday launched the “Wazir-e-Azam Apna Ghar Program – Ghar Ho Tu Apna,” a nationwide housing finance scheme aimed at addressing Pakistan’s chronic housing shortage.

The programme has set an initial target of 50,000 houses in its first phase, backed by Rs321 billion in financing during the first year. Over the next four years, the government aims to expand construction to 500,000 houses.

The scheme applies across the country without regional restrictions, covering all four provinces as well as Gilgit-Baltistan and Azad Kashmir.

Under the financing framework, eligible borrowers can access housing loans of up to Rs10 million. The loans carry an introductory 5% markup rate, which will shift to market-based pricing after 10 years, with repayment periods extending up to 20 years.

The initiative was developed through consultations involving the private sector, the Ministry of Finance, and the State Bank of Pakistan.

In parallel, the SBP has introduced procedural reforms under its affordable housing finance regime, requiring banks and the House Building Finance Company Limited to complete credit approvals within 15 working days once applications are complete. The debt burden ratio has also been capped at 65% to strengthen lending discipline while widening access.

Property valuation procedures have additionally been simplified to reduce processing delays in loan approvals.

Officials said the scheme is expected to generate employment across construction and allied sectors, including labour, engineering, drafting, and related services.

Prime Minister Shehbaz Sharif said he would personally review progress of the programme within a month and urged banks to ensure timely disbursement of loans, stressing that efficient performance would be supported.