“Mera Ghar Mera Aashiyana”: How Citizens Can Benefit from Government Housing Finance Scheme

Islamabad: The Pakistani government has launched a new housing finance scheme, *Mera Ghar Mera Aashiyana*, to help citizens meet their residential needs. The program allows first-time homebuyers, as well as those looking to build flats, plots, or houses, to obtain loans under easy conditions.

The scheme aims to provide financial assistance to low- and middle-income citizens to help them acquire their own homes.

Loans are divided into two tiers under the program:

* **Tier 1:** Applicants can receive up to PKR 2 million at a subsidized interest rate of 5%.
* **Tier 2:** Loans up to PKR 3.5 million are available at an interest rate of 8%.

The maximum repayment period for the loans is 20 years, with a markup subsidy applicable for the first 10 years.

Participants are required to provide 10% equity, while banks will finance up to 90% of the housing cost.

Eligibility criteria include holding a valid national identity card and not owning any residential property at the time of application.

The scheme covers purchasing a home or flat, building on an existing plot, or buying a plot for construction. Maximum unit sizes include five marlas for houses and up to 1,360 square feet for apartments.

Loans under the scheme are available through all commercial banks, Islamic banks, microfinance banks, and the House Building Finance Company Limited.

Officials say the initiative represents a historic step toward increasing access to affordable housing for low- and middle-income citizens across Pakistan.