Housing loan package to be announced by PM Shehbaz Sharif
According to scheme documents, eligible citizens will be able to obtain housing loans of up to Rs10,000,000 for a period of up to 20 years. The government plans to introduce different loan categories, including Rs2.5 million, Rs5 million, Rs7.5 million, and Rs10 million under the new housing initiative.
Under the scheme, borrowers will pay a fixed 5% markup during the first 10 years, while the normal bank markup rate will apply during the remaining 10 years. Documents show that people obtaining a Rs2.5 million loan will pay a monthly installment of around Rs16,499.
For a Rs5 million loan, the monthly installment will be approximately Rs32,997, while borrowers of Rs7.5 million will pay nearly Rs49,497 every month. Citizens receiving a Rs10 million housing loan will have to pay an estimated monthly installment of Rs65,996.
Officials said only national identity card holders with no previous borrowing history will qualify for the scheme. The loan amount can be used to purchase a 10-marla plot or to construct a house on a 10-marla plot.
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Under the financing formula, the government and banks will provide 90% financing, while borrowers will contribute the remaining 10% from their own resources.
The housing loans will be available through Islamic banks, commercial banks, microfinance banks, and the House Building Finance Company. According to the scheme details, applicants will not be charged any fee before the actual disbursement of the housing loan.
The State Bank of Pakistan and the Pakistan Housing Authority Foundation will jointly monitor the implementation of the scheme. Citizens interested in the program will have to apply online, while officials say the process from application submission to final approval may take around one month.
The expected announcement has created hope among middle-income families struggling with rising property prices and construction costs. Many experts believe the scheme could boost the housing sector, create jobs, and support economic activity if implemented smoothly and transparently.
