The Pakistani government has taken a big step to help people own homes. Commercial banks have approved Rs. 160 billion in housing loans under the Prime Minister’s Wazir-e-Azam Apna Ghar Program (also known as Apna Ghar). This initiative targets first-time home buyers who want to buy, build, or finish their first house.
The program makes home loans easier to get. It offers loans up to Rs. 10 million with favorable terms, including a low 5% markup rate for the first 10 years. Loans can be repaid over 20 years. This helps middle- and lower-income families who find it hard to afford homes due to high costs.
Housing is very important for Pakistan’s economy. The construction sector supports many industries like cement, steel, bricks, transport, and labor. Building more houses creates thousands of jobs and boosts economic activity. Experts say that for every new house built, many related businesses also grow.
Pakistan faces a large housing shortage; estimates suggest a deficit of around 10-13 million units. Many families live in crowded or poor-quality homes. This new financing push aims to increase home ownership, improve living standards, and bring more financial inclusion.
By supporting first-time buyers, the government hopes to create long-term stability for families. More home ownership can also encourage savings and investment in communities. The scheme is part of a larger Rs. 3.2 trillion plan to build hundreds of thousands of homes across the country.
This move shows the government’s focus on affordable housing. If successful, it can help reduce poverty, support economic growth, and give more Pakistanis the security of their own home.