Government Announces Financial Support and Facilities for Housing Projects

Islamabad:The government has decided to provide loans and other facilities for housing projects in a bid to promote the sector. The decision includes the establishment of an Apex Housing Finance Institution and the provision of 14 key facilities to support the housing and construction industry.

The decision was made during a meeting chaired by Hafiz Mian Nauman, the Convenor of the Naya Pakistan Housing Development Authority. The meeting focused on various proposals to boost housing projects and the construction industry, including a single-digit interest rate policy.

It was decided that banks would allocate 10% of their private sector loans to the housing and construction sector. The meeting also emphasized increasing collaboration between banks and other financial institutions to further support the growth of the housing industry.

This initiative is expected to significantly contribute to the development of the housing sector and ease access to affordable housing for the public.