ISLAMABAD: The Economic Coordination Committee (ECC) chaired by Finance Minister Muhammad Aurangzeb on Friday approved key measures to promote affordable housing and strengthen energy infrastructure including revisions to the low-cost housing scheme and funding for the Thar coal railway project.
According to a statement issued by the Ministry of Finance, the housing scheme has so far received over 10,594 loan applications, with disbursements already under way for approved cases. Under the revised framework the maximum loan limit has been increased to Rs10 million per applicant while the permissible size of residential units has also been expanded. A uniform interest rate of 5 percent will now apply to all loans, and previously approved loans will be adjusted to this new rate. Subsidy payments will be linked to actual loan disbursements and managed within the annual fiscal subsidy envelope. The scheme will continue under the procedures of the State Bank of Pakistan.
In addition the ECC approved a technical supplementary grant of Rs6.61 billion for the Thar coal railway project aimed at transporting local coal to power plants and industrial units. The committee said these steps support affordable housing and domestic energy development to drive economic growth.
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