Prime Minister's 'Apna Ghar' (Own Home) Scheme: Applications to be processed within 15 days

Prime Minister Shehbaz Sharif has directed that the housing finance procedure under the "Prime Minister Apna Ghar Scheme" be simplified. He has set a 15-business-day limit for the processing of applications. Furthermore, the number of documents required to obtain a loan has been reduced from 25 to just 5.

These decisions were made during a high-level meeting chaired by the Prime Minister, which reviewed the provision of loans and access to financial resources for housing construction, Small and Medium-sized Enterprises (SMEs), and the agricultural sector. The meeting was attended by Federal Ministers, advisors to the Prime Minister, the Minister of State for Finance, heads of various banks, and senior officials from relevant institutions.

Approval of Over 75,000 Loans Under the 'Apna Ghar' Scheme

The meeting was informed that, under the "Prime Minister Apna Ghar Scheme," 75,198 loans—valued at 448 billion rupees—have been approved to date. Meanwhile, loans totaling 76 billion rupees have already been disbursed to 14,000 individuals.

For the current year, the government has set a target to provide 700 billion rupees in loans for 125,000 residential units. The reduction in the application processing time and the number of required documents is considered a significant step toward accelerating the housing finance process.

It was also noted during the meeting that efforts are underway to make the housing finance mechanism more effective and to provide financial support to developers. A committee has been established to formulate recommendations in this regard. 

Target Set to Increase Agricultural Credit Volume to Rs 1,500 Billion

According to a briefing, the total volume of credit in the agricultural sector has reached Rs 1,352 billion, benefiting 3.455 million individuals. The government has set a target to increase the volume of agricultural credit to Rs 1,500 billion and the number of beneficiaries to 4.5 million by June 2027.

Data regarding the provision of credit to the Small and Medium Enterprise (SME) sector was also presented. The meeting was informed that, to date, loans amounting to Rs 1,137 billion have been provided to over 352,000 business entities.

The government aims to increase the volume of credit in the SME sector to Rs 1,500 billion by June 2027 and to expand the number of borrowing business entities to 575,000. To achieve this, work is underway to review relevant regulations and simplify the loan procurement process.

Directive to Improve Bank Performance

Addressing the meeting, Prime Minister Shehbaz Sharif stated that the timely provision of credit to the housing, agriculture, and SME sectors is essential for the growth of the national economy. He commended banks that have played an effective role in these sectors, while directing those with unsatisfactory performance to improve their operations.

The Prime Minister instructed the relevant ministries, secretaries, and the State Bank to consult with stakeholders associated with these three sectors and solicit their proposals to make existing schemes more effective. He also directed that the consultative process be completed by the end of this month and recommendations be submitted.

Plan to Expand Crop Storage Facilities for Farmers

The meeting also deliberated on the safe storage of agricultural produce and methods to provide financial assistance to farmers. The Prime Minister directed that non-operational PASSCO warehouses and silos be made functional through a public-private partnership, thereby increasing the capacity to store farmers' crops with the support of the private sector.

He commended a model employed by Allied Bank, under which storage facilities are established, and farmers are granted loans against their stored crops. The Prime Minister directed that this mechanism be expanded through the involvement of the private sector.

Furthermore, an investment plan for an SME park—proposed by Allied Bank—was also welcomed. The Prime Minister instructed that the data submission process for applicants of the 'Apna Ghar' (Own Home) scheme be further simplified, and that the acquisition of clear, undisputed property ownership documents for housing finance be facilitated.

At the conclusion of the meeting, the committee on developer finance was directed to finalize and submit its recommendations at the earliest.