CM reviews low-cost housing scheme
A meeting was chaired by Caretaker Chief Minister Punjab Mohsin Naqvi to review the CM’s Low-Cost Housing Scheme and an order was given to reconstitute the board of Punjab Housing and Town Planning Agency as soon as possible. The scheme aims to facilitate people with low incomes to get housing loans.
The CM called for a workable plan for issuing housing loans to people with low incomes. The procedure of issuing small housing loans for PHATA and other schemes was assessed and the provision of Rs80 crore worth of loans for building houses through Akhuwat Islamic Microfinance was also discussed.
Naqvi noted that owning a home was the necessary right of every human being and stated that interest-free loans will be given, in partnership with Akhuwat, to build houses on ploys smaller than five marlas. Economic activity will also increase by giving easy loans to the low-income stratum to build their houses, he maintained, welcoming the full recovery of Rs200 million worth of interest-free loans through Akhuwat.
Published in The Express Tribune, February 18th, 2023.