Punjab launches interest-free home loan scheme

Speaking at the launch ceremony, Punjab Chief Minister Maryam Nawaz Sharif said owning a home is a dream shared by every family, adding that a house provides security, peace of mind and a sense of stability.

The chief minister also expressed deep sorrow over the recent tragic incident in Lahore’s Kahna area. She said the loss of children in the incident had deeply saddened her and that she shared the grief of the bereaved families.

Maryam Nawaz expressed hope that the “Apni Chhat, Mehfooz Chhat” programme would help ensure that no family in Punjab suffers because of an unsafe or weak roof. Under the scheme, eligible applicants will receive interest-free loans of up to Rs500,000 to construct their homes.

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The loan will be repayable over a period of nine years. Beneficiaries will not have to pay any instalments during the first three months. After the grace period, they will pay a monthly instalment of Rs4,700.

The chief minister said the programme aims to improve housing facilities and provide citizens with the opportunity to live with dignity in safe and secure homes.

She reaffirmed the Punjab government’s commitment to public welfare and said more initiatives would be introduced to improve the quality of life for people across the province. The new housing scheme is expected to provide financial relief to low-income families who want to build their own homes but cannot afford the high cost of construction.