Punjab CM Maryam Nawaz launched interest-free housing scheme
Punjab Chief Minister (CM) Maryam Nawaz launched an interest-free housing scheme under the “Apna Ghar Apni Chhat” project. This scheme aims to give low-income households interest-free loans in the province.
Maryam Nawaz emphasized the value of home ownership during the inauguration event in Lahore on August 21, 2024. She said while people who own homes may take this scheme for granted, those who don’t have a roof over their heads realize the actual worth of a home.
She remarked there is no place like home. However, Apna Ghar Apni Chhat offers interest-free loans to rural and urban populations. It will provide loans of up to PKR 1.5 million to:
- People who own 1 to 5 marlas of land in urban areas.
- People who won 1 to 10 marlas of land in rural regions.
The Punjab government has set the maximum monthly installment at PKR 14,000 for loan repayments. It is significant to note that monthly repayments will start after a three-month grace period.
Punjab CM Maryam Nawaz explained there would be no additional fees or levies in her launched interest-free housing scheme. She clarified that loans would be paid back over seven years.
How to Apply for an Interest-free Housing Loan Scheme
- Applications for this scheme can be sent through a specific helpline or online at the Punjab Information Technology Board. The helpline number is 0800-09100.
- Citizens of Punjab can also apply through the portal acag.punjab.gov.pk.
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Maryam Nawaz said they launched this scheme without the involvement of any banks to spare beneficiaries from further financial strain. Her government wanted to ensure transparency and simplicity in this process.
She also emphasized her government’s commitment to removing Punjab citizens’ financial burdens in light of the recent reduction price in electricity bills.
The Punjab government reduced the price of electricity bills by PKR 14 per unit for users consuming 200 to 500 units monthly. However, this subsidy will remain for only two months, August and September.
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