LAHORE: Punjab Chief Minister Maryam Nawaz has affirmed that loans under the 'Apni Chhat, Apna Ghar' initiative will be granted strictly based on merit. Speaking in a statement on Sunday, she outlined that beneficiaries who secure a loan of Rs1.5 million would only need to repay the principal amount in affordable installments of Rs14,000 per month over a span of nine years.
The program, aimed at providing affordable housing, has already seen over 5,000 houses nearing completion, with construction underway for additional houses as part of its second phase. Applications for loans are being processed and verified by three independent microfinance institutions, ensuring transparency and fairness.
In line with the government’s ambitious housing plans, Chief Minister Maryam Nawaz set a target to construct 100,000 houses within the next year and 500,000 houses in the next five years. She stressed the importance of meeting these targets to address the growing demand for affordable housing in Punjab.
The 'Apni Chhat, Apna Ghar' program is seen as a crucial step in providing financial relief and housing solutions to middle and lower-income families. It aims to empower individuals by offering them affordable homeownership options, contributing to the social and economic development of the region.
