Islamabad: The Pakistan Housing Authority Foundation, under the Federal Ministry of Housing and Works, has officially launched the “Apna Ghar Program.” Under this initiative, individuals can avail loans of up to PKR 10 million for the construction or purchase of a house at a subsidized markup rate of just 5%. The program is specifically designed for individuals who do not already own a house or flat. Applications for the loan can be submitted online or through any commercial or Islamic bank across the country, as well as through branches of the House Building Finance Company Limited (HBFC). The repayment period for the loan is set at 20 years. For the first 10 years, the markup rate will remain fixed at 5%. All applications will be evaluated in accordance with the scheme’s terms and conditions. The initiative has been widely appreciated by the public as a significant and people-friendly housing project. Staff Reporter
