LAHORE: Chief Minister of Punjab Maryam Nawaz has approved the provision of housing loan to the citizens of the provinces on the basis of plot ownership documents and identity card, here on Tuesday.
As per the details, this development is a first-of-its-kind initiative launched by the Punjab government to help people build their homes.
Maryam Nawaz granted the approval for the ‘Apni Chat Apna Ghar’ project during a cabinet meeting where two other projects related to green tractor scheme and children heart surgery programme were also approved.
The provincial cabinet also approved an increase in fines and imprisonment for crimes related to illegal weapons and kite flying.
It was highlighted in the meeting that this is the first time in Pakistan that citizens will be provided with housing loans on the basis of plot documents and identity cards by the government.
Under the scheme, citizens of Punjab will be able to get a loan of Rs 15 lakh for nine years. The monthly installment for the repayment of the loan is fixed at Rs.14000 while no additional charges will be charged from the people.
The Chief Minister also approved a scheme to provide 9500 tractors to farmers at subsidized rates.
The government will give a subsidy of Rs 10 lakh on the purchase of tractor. The plan will start on September 20 while the draw will take place on October 20.
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