ISLAMABAD: Prime Minister Imran Khan has decided to increase the loan limit of the Naya Pakistan Housing Scheme by 100 percent to ten million rupees to facilitate the masses and enable them to become homeowners.
Taking to Twitter, PTI Senator Faisal Javed Khan said that the prime minister has not only decided to increase the loan limit for the scheme by 100% but the discounted markup rate has also been reduced to 3% and 5%.
Under the scheme, people will be able to purchase]5 and 10 marla houses, flats, and plots, while those who already own properties will be able to construct houses on those plots under the scheme, the premier’s aide wrote.
He further added that the loan limit has been increased to Rs10 million. He added that the prime minister is personally monitoring this programme himself.
“The realisation of dreams has begun; the distribution of houses has begun,” he wrote, adding that people would not be required to pay loans anymore as they can become homeowners by paying off the loan in very small installments. “It’s a revolutionary move. You can now own a home. Contact banks for further information regarding the loans,” he further said.
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In October 2020, the State Bank of Pakistan (SBP) announced that the government will be providing a markup subsidy facility for the construction and purchase of new houses to the people of Pakistan.
“This facility will allow all individuals, who will be constructing or buying a new house for the first time, to avail the bank’s financing at subsidised and affordable markup rates,” said a a statement from central bank.
This facility will be provided with the administrative support of the State Bank of Pakistan as the executing partner of the Government of Pakistan and Naya Pakistan Housing and Development Authority (NAPHDA).
