Microfinance companies to offer easy home loans under ‘Apni Chhat Apna Ghar’ scheme

LAHORE: In a groundbreaking move, the Securities and Exchange Commission of Pakistan (SECP) approved regulatory relaxations for Non-Banking Microfinance Companies (NBMFCs), enabling them to participate in the CM Punjab Maryam Nawaz’s housing scheme, apni Chhat Apna Ghar.

Punjab CM Maryam Nawaz’s flagship initiative, called the Apni Chhat Apna Ghar initiative, is aimed at helping low-income families in Punjab to get affordable housing solutions.

By allowing Non-Banking Microfinance Companies to participate directly in the scheme, the Securities and Exchange Commission of Pakistan has helped to open a path for underserved communities to access home financing, a sector that has not attracted any meaningful interest from traditional financial institutions.

These microfinance firms are a pillar in the financial services ecosystem and are mainly recognized for supporting low–income and marginalized communities with microloans and livelihoods.

After the approval, these financial institutions can now diversify their services to include housing finance for the benefit of the most vulnerable populations in Pakistan.

“This regulatory easing represents SECP’s commitment to inclusive economic growth, because empowering NBMFCs to extend their reach into affordable housing will help bolster efforts to uplift underserved communities and stimulate socio-economic development,” the Commission said.

Players in the microfinance and housing sector have welcomed the news as a means of bridging critical financing gaps and providing meaningful changes to thousands of low-income families.

Eligibility Criteria for Apni Chhat Apna Ghar Scheme

Apni Chhat Apna Ghar’s initiative aims at supporting families with monthly income below Rs50,000, those living in rental properties.

• Head of their household in the NADRA records.
• Reside permanently in Punjab, as indicated on their CNIC.
• Own a land plot of up to 5 Marlas in urban areas or up to 10 Marlas in rural areas within Punjab, where they plan to build their house.
• Have no serious criminal record.
• Have no outstanding debts to banks or financial institutions.
• Be registered with the National Socio-Economic Registry (NSER) with a PMT score of 60 or lower.

This initiative will benefit residents in key cities, including Lahore, Rawalpindi, Faisalabad, Sialkot, Multan, and Sargodha. By providing affordable housing options, the government aims to address the pressing need for shelter among low-income families and contribute to the overall development of these cities.