PM Apna Ghar Scheme applicants receive good news

LAHORE: The long-awaited good news has come for those who applied for the Prime Minister’s “Apna Ghar” program. Housing loans have been approved.

According to the details, commercial banks have approved housing loans worth Rs 160 billion under the Prime Minister’s “Apna Ghar Program”, while the process of disbursing loans to successful applicants is also underway.

Help in building one crore houses: Adviser to the Finance Minister Adnan Pasha, while speaking at the First International Insurance Conference in Karachi, said that the Prime Minister’s Apna Ghar Program will help meet the shortage of about one crore houses in Pakistan.

Due to this program, low-income families have got the opportunity to own their own homes with the help of loans on concessional terms. Adnan Pasha said that under the Prime Minister’s Apna Ghar Program, loans are being given at a concessional markup of only 5 percent.

The Ministry of Finance is bearing the burden of up to 10 percent of the potential loan losses of the banks participating in this program and is also providing a markup subsidy for 10 years so that housing finance can be made more affordable.

Plan to distribute two million electric bikes: Adnan Pasha said that the government also plans to introduce two million electric motorcycles in the country.

About three million registered motorcycles in Pakistan burn about $8 billion worth of gasoline in a year. Petrol is a harmful fuel for the environment, and its import costs foreign exchange.

To reduce gasoline consumption, the government is encouraging citizens interested in buying electric bikes. The government is providing subsidies and interest-free financing for buying electric bikes.

However, Adnan Pasha said that there are still problems with the production and supply of electric bikes in the country. Cooperation of 21 banks in the Fertility Scheme.

He further said that the government has also recently launched the Fertility Scheme, under which digital agricultural loans are being provided to farmers in collaboration with 21 banks, the Pakistan Banks Association and Suparco. The project will monitor the use of agricultural loans through satellite monitoring and real-time data to ensure transparency and effectiveness.