The Wazir e Azam Apna Ghar Program has approved housing loans worth Rs. 160 billion for eligible applicants, according to Adviser to the Finance Minister Adnan Pasha. He said loan payments to successful applicants are currently being processed.
Speaking at the First International Insurance Conference in Karachi, Adnan Pasha highlighted the role of the housing initiative in addressing Pakistan’s growing housing shortage. He said the country currently faces a shortage of around 10 million housing units.
The adviser said the Wazir e Azam Apna Ghar Program is helping low-income families achieve home ownership through affordable financing options. The scheme provides loans at a subsidized markup rate of 5 percent.
He explained that the program is designed to create financial opportunities for families at the lower end of the income scale. Affordable housing finance can help people build assets and improve their living conditions.
Adnan Pasha said commercial banks are participating in the initiative by providing housing loans. The Ministry of Finance is supporting these banks by covering up to 10 percent of possible loan losses.
The government is also providing a markup subsidy for 10 years. This support aims to reduce the financial burden on borrowers and make housing loans more accessible.
However, Pasha pointed out that the current housing finance system does not include an insurance component. He said homeowners need protection against climate-related disasters and other unexpected risks.
He invited insurance companies to develop suitable products for homeowners. He assured that the government would support such initiatives through a supportive regulatory framework.
During the conference, Pasha also discussed other government initiatives. He said Pakistan plans to promote electric mobility by introducing 2 million electric motorcycles.
He noted that millions of motorcycles currently use fuel, creating a significant cost burden for the country. The government is encouraging electric vehicle adoption through subsidies and zero-markup financing.
Pasha also mentioned the Zarqaizi Scheme, which provides digital agricultural loans through 21 banks. The initiative was launched with support from the Pakistan Banks Association and SUPARCO.
The scheme uses satellite monitoring and real-time data to improve transparency in agricultural lending. It helps track the use of loans and improve efficiency in the farming sector.
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The Wazir e Azam Apna Ghar Program remains a key government initiative aimed at expanding affordable housing access. Officials believe the program can support economic inclusion by helping more families purchase homes through easier financing options.
