Housing scheme cheques distributed

LAHORE:

PML-N President Nawaz Sharif and Punjab Chief Minister Maryam Nawaz distributed cheques of loans among the beneficiaries of the Apni Chhat, Apna Ghar housing programme.

The chief minister said on the occasion, "The dream about the development of Pakistan that started in 1980 belongs to Muhammad Nawaz Sharif." She said the first installment of the loan was being given within one and a half months. The project worth Rs700 billion will be completed in five years.

The CM said equal loans were being given in all districts under the scheme.

About 500,000 applications had been submitted for the homes and the government had decided that as many houses would be built in the next five years, she added. The Punjab government will give loans to the owners of one to five marla of land in the cities and 10 n marla in villages.

She said strict conditions for obtaining the loan had been waived and they could be obtained by showing the national identity card and land ownership documents. Loan worth Rs100,000 will be given to each successful applicant in the first year through balloting.

"I directed that loan installment of Apna Ghar programme should not be more than Rs14,000 with zero interest. A person getting a loan of Rs1.5 million will have to pay the same amount in nine years," she said.