Punjab has doubled its interest-free housing loan target for the current fiscal year as approvals under the Apni Chhat Apna Ghar program surpass 200,000.
LAHORE: Punjab has doubled the target for interest-free housing loans under the Apni Chhat Apna Ghar program for the current fiscal year, offering fresh support to thousands of families seeking to build their own homes.
More than 243 billion rupees in interest-free loans have so far been provided under the program, while the number of approved loans has crossed 200,000, officials said during a meeting chaired by Punjab Housing Minister Bilal Yasin.
The meeting was attended by DG PHATA Sikandar Zeshan, Urban Unit Chief Executive Officer Umar Masood, representatives of the Bank of Punjab and officials from other relevant institutions.
Officials briefed the meeting on the progress of interest-free housing loans and said more than 200,000 applications had been approved under the program.
According to the figures presented at the meeting, 114,237 houses have been completed, while construction work is currently underway on 45,254 homes.
The government said the loan target for the current fiscal year had been doubled because of the record number of applications received under the housing initiative.
The expansion could provide additional financial support to low- and middle-income families who may find conventional bank financing difficult to access. The interest-free facility is intended to help eligible applicants begin construction of their homes.
However, the timely release of approved funds remains an important issue for applicants. Bilal Yasin directed officials to ensure the immediate release of pending payments to prevent unnecessary delays in construction.
Action ordered on public complaints
During the meeting, Yasin directed authorities to take immediate action on complaints related to delays in the disbursement of housing loans.
He also instructed relevant departments to accelerate the process of addressing applicants’ complaints and ensure that citizens do not face unnecessary waiting or administrative difficulties.
The Punjab Information Technology Board (PITB) was tasked with maintaining effective coordination among all stakeholders to improve the process for applicants.
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