PM Housing Scheme: Loans Worth Rs426 Billion Approved for 71,690 Applicants
ISLAMABAD: The government has so far approved loans worth Rs426 billion for 71,690 applicants under the Prime Minister’s Apna Ghar Scheme, while Rs76 billion has already been disbursed to 13,214 beneficiaries.
The figures were shared during a high-level review meeting chaired by Prime Minister Shehbaz Sharif on the provision of loans to the housing, agriculture and small and medium-sized enterprise (SME) sectors.
Federal ministers Rana Tanveer Hussain, Ahsan Khan Cheema, Muhammad Aurangzeb, Riaz Hussain Pirzada and Attaullah Tarar, Prime Minister’s Adviser Haroon Akhtar, State Bank of Pakistan Governor Jameel Ahmad and senior government officials attended the meeting.
The meeting reviewed the performance of the National Bank of Pakistan and First Women Bank regarding the provision of loans.
The prime minister appreciated the National Bank of Pakistan for achieving a 76% loan approval rate in the housing finance sector. He directed the bank to engage highly qualified professionals to improve its performance and ordered departmental action, without fear or favour, against employees who fail to deliver the required results.
Shehbaz Sharif also directed other provinces to accelerate the digitisation of land records on the pattern of Punjab to facilitate housing finance. He said digitisation would make the process of providing housing loans easier and more transparent for banks.
The meeting was briefed that the government has set a target of providing Rs700 billion in loans for 125,000 residential units during the current year under the Prime Minister’s Apna Ghar Scheme.
Regarding agricultural financing, the meeting was informed that total agricultural loans had reached Rs1,352 billion, benefiting around 3.455 million people. The government has set a target of increasing agricultural lending to Rs1,500 billion and the number of beneficiaries to 4.5 million by June 2027.
The meeting was told that improved access to financial resources in the agriculture sector would help enhance farmers’ productivity and promote economic activity.
In the SME sector, loans worth Rs1,137 billion have so far been provided to around 350,000 businesses. By June 2027, the government aims to increase SME lending to Rs1,500 billion and the number of businesses receiving loans to 565,000.
The meeting was informed that measures were being taken to provide SMEs easier access to finance, encourage investment in modern technology and enable businesses to compete in international markets.
The government is also working to revise SME regulations and simplify and improve housing finance procedures.
Officials briefed the meeting on joint risk-sharing mechanisms, promotion of supply-chain financing, authenticated data sharing and other ongoing measures. They said digital systems were being promoted to spare customers from repeated visits to bank branches for obtaining small loans.
The prime minister directed authorities to remove obstacles to financing in the housing, agriculture and SME sectors and make the lending system more effective.
He ordered that the SME portal be made operational by the end of November to facilitate access to financing for small and medium-sized businesses.
According to the briefing, the portal will enable direct monitoring of the latest status of bank financing, including loans and business facilities such as letters of credit (LCs).
The prime minister also directed the Small and Medium Enterprises Development Authority (SMEDA) to take effective measures to enhance SME capacity, promote modern technology, increase productivity and integrate Pakistani businesses into global value chains.
