ISLAMABAD: The government has set a target to provide housing finance for 125,000 residential units this year under the Prime Minister’s Apna Ghar scheme, with a proposed lending volume of Rs700 billion.
Prime Minister Shehbaz Sharif chaired a high-level meeting to review progress and measures aimed at expanding financing for housing, small and medium enterprises (SMEs) and the agriculture sector.
During the meeting, officials briefed the prime minister on steps being taken to increase access to housing loans and make financing more accessible for eligible applicants. The government is also seeking to improve coordination among financial institutions involved in housing finance.
The meeting reviewed several measures designed to reduce barriers to lending, including joint risk-sharing arrangements between relevant institutions. Such mechanisms are intended to help financial institutions manage lending risks while extending financing to a wider range of borrowers.
Officials also discussed supply chain financing and stronger data sharing among institutions. Better access to financial information is expected to support more efficient assessment of loan applications and improve the delivery of financing services.
Digital banking and application systems were another focus of the meeting. The government is working to expand digital channels so that consumers can apply for smaller loans without having to visit bank branches in person.
Alongside housing finance, the meeting reviewed measures to improve funding opportunities for SMEs. Officials said an SME portal is expected to become operational by the end of November to provide businesses with easier access to financing and related services.
The meeting was also informed that the National Bank of Pakistan (NBP) had recorded a 76 percent approval rate for housing finance applications. The government viewed the figure as a positive development as it works to increase the availability of formal housing finance.
The Rs700 billion target will depend on the implementation of the lending programme, participating financial institutions and the eligibility of applicants. For prospective homebuyers, the expansion of housing finance could provide additional financing options, subject to the scheme’s terms and individual loan approval.
