(Digital Itla) Great news has arrived for applicants of the Prime Minister's "Apna Ghar" Program, as housing loans have been approved.
According to details, commercial banks have approved housing loans worth 160 billion rupees under the Prime Minister's "Apna Ghar Program," and the disbursement of loans to successful applicants is currently underway.
Adnan Pasha, Advisor to the Finance Minister, while addressing the First International Insurance Conference in Karachi, stated that this program will help address the shortage of nearly 10 million houses in Pakistan and provide low-income families an opportunity to own a house on concessional terms.
He shared that loans under this scheme are being offered at a discounted mark-up rate of 5%. Furthermore, the Ministry of Finance is bearing up to 10% of potential loan loss risks for participating banks and providing a mark-up subsidy for 10 years to make housing finance even more affordable.
Adnan Pasha added that the government also plans to introduce 2 million electric motorcycles in the country. Around 3 million registered motorcycles in Pakistan consume nearly $8 billion worth of fuel annually; to reduce this, the government is providing subsidies and interest-free financing, though production and supply challenges remain.
He further mentioned that the government has recently launched the Zarkhezi Scheme, under which digital agricultural loans are being provided to farmers through a collaboration among 21 banks, the Pakistan Banks Association (PBA), and SUPARCO.
The project will utilize satellite monitoring and real-time data to track the utilization of agricultural loans, ensuring transparency and effectiveness.
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