Islamabad: Prime Minister Muhammad Shehbaz Sharif has launched the 'Prime Minister's Apna Ghar Programme' to provide affordable loans to low and middle-income groups to own their homes. Addressing the launching ceremony in Islamabad, he stated that loans of up to ten million rupees will be made available under this programme, with a repayment period of twenty years.

According to Radio Pakistan, for the first ten years, the markup rate will be five percent, after which standard market rates will apply for the remaining period. The Prime Minister said the target of fifty thousand homes has been set for the first year, with a financing allocation of 321 billion rupees. Over the next four years, the target is to build five hundred thousand homes, allowing people to construct homes of up to ten marla under this programme.

Shehbaz Sharif expressed confidence that this housing programme will stimulate the industries and the economy, and open doors for prosperity. He committed to personally reviewing the programme at least once a month to ensure timely disbursements and to remove obstacles. He assured that the procedure to obtain loans under this programme will be simple.

Earlier, the Prime Minister also disbursed cheques amongst the successful applicants.