Pakistan: The government has approved key changes to the affordable housing loan scheme to facilitate low- and middle-income families in purchasing homes. Under the revised policy, the maximum loan amount has been set at Rs10 million with a fixed interest rate of 5 percent for consumers. The loan repayment period will extend up to 20 years. According to the plan, the government aims to finance up to 500,000 homes within four years, with 50,000 housing loans expected to be issued in the first year. To support the program, the government will provide an estimated subsidy of around Rs321 billion. Officials say the initiative is designed to boost housing construction, improve home ownership opportunities and stimulate growth in the real estate and construction sectors.
