ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday launched the “Wazir-e-Azam Apna Ghar Program – Ghar Ho Tu Apna,” a housing finance initiative designed to tackle Pakistan’s long-standing housing shortage.
Speaking at the launch ceremony, the prime minister described access to housing as a “sacred obligation” of the state, highlighting that a large portion of the country’s roughly 240 million people still lack adequate shelter.
He commended his team for developing a programme intended to operate nationwide, covering all provinces along with Gilgit-Baltistan and Azad Kashmir, without any regional eligibility restrictions.
“In the first phase, the government aims to build 50,000 houses, supported by Rs321 billion in financing during the first year. Over the next four years, the target is to construct 500,000 homes,” he said.
Shehbaz Sharif noted that the initiative was formulated after detailed consultations with the private sector, the finance ministry, and the State Bank of Pakistan.
Under the scheme, individuals can access housing loans of up to Rs10 million. These loans will carry a 5% markup initially, shifting to market-based rates after 10 years, with repayment periods extending up to 20 years.
“I will review this scheme in at least a month,” he said.
The prime minister added that the initiative is expected to create jobs across both skilled and unskilled sectors, including construction workers, engineers, draftsmen, and related service providers.
He also called on participating banks to ensure efficient loan disbursement. “The payments should be made on time. If the bank is doing a good job, we will support it,” he said.
Earlier, the State Bank introduced supportive measures under its affordable housing finance framework, instructing banks to finalize credit approvals within two weeks to improve access and reduce delays for applicants.
According to the revised guidelines, the debt burden ratio has been capped at 65% to promote responsible lending while maintaining flexibility for borrowers. The policy also streamlines property evaluation procedures.
Banks and the House Building Finance Company Limited (HBFCL) have been directed to complete credit approvals within a maximum of 15 working days after receiving a complete application.
