Over 5k houses near completion with interest-free loans

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LAHORE:

Expressing pleasure over seeing houses built under the Apni Chhat, Apna Ghar programme, Punjab Chief Minister Maryam Nawaz Sharif has said that she is sure that it would prove to be the best housing scheme in Pakistan.

"I want no one in Punjab to remain homeless. Everyone should have the happiness of having his/her own roof. The state is like a mother and mothers feel more for the homeless children," an official statement quoted her as saying. The chief minister loans are given on merit under the scheme.

She added, "Those who get a loan of Rs1.5 million will have to pay the principal amount in nine-year installments of Rs14,000 per month." She said a record of giving microfinance loans worth Rs8.5 billion under the scheme in a few months had been achieved.

She said more than 400,000 applications and documents had been received on the Apni Chhat, Apna Ghar portal and loans had been issued to 5,000 applicants in the first phase of the scheme. She underscored, "More than 5,000 houses under the programme are nearing completion."

Chief Minister Maryam Nawaz said, "Construction of houses has also begun with 3,000 loans issued in Phase-II."

She said three impartial microfinance institutions were verifying applications received on the portal.

She directed the relevant authorities to complete the construction of 100,000 houses in one year and 500,000 in five years.

A web portal and a helpline have been established.