PM Shehbaz Sharif unveils major housing scheme: but who qualifies?

Prime Minister Shehbaz Sharif has launched a major housing finance initiative under the Apna Ghar Program, aimed at making home ownership more accessible for citizens across the country.

At a formal ceremony, cheques were distributed among eligible applicants through participating banks, marking the official rollout of the scheme. The program will be implemented nationwide, including in Gilgit-Baltistan and Azad Kashmir, expanding its reach beyond major urban centers.

Under the initiative, individuals can apply for housing loans ranging from Rs 2.5 million to Rs 10 million, repayable over a 20-year period. The government has introduced a subsidized structure, offering a fixed markup rate of 5 per cent for the first 10 years, followed by a standard market rate for the remaining decade. Monthly installments have been structured to remain relatively affordable, depending on the loan size.

To qualify, applicants must hold a valid CNIC and have no outstanding loan defaults. The scheme allows financing of up to 90 per cent of the property value, with the remaining 10 per cent to be arranged by the buyer. Loans can be used to purchase houses or plots of up to 10 marla and will be offered through a range of financial institutions, including commercial banks, Islamic banks, microfinance institutions, and housing finance companies.

Senior government figures, including Ishaq Dar and other cabinet members, have backed the initiative, describing it as a significant step toward addressing Pakistan’s housing shortage and supporting middle-income families.