The government has reduced the loan processing time under the Apna Ghar Scheme to 15 working days. It has also cut the required documents from 25 to just five to make applications easier.
Prime Minister Shehbaz Sharif announced the measures during a high-level meeting on housing finance, agriculture loans, and small and medium-sized enterprises (SMEs). The meeting reviewed progress in expanding access to financing across these sectors.
Federal ministers, the prime minister’s adviser, banking executives, and senior government officials attended the meeting. Participants discussed lending figures and measures to improve access to loans.
Officials said banks were strengthening their capacity to provide financing for housing, agriculture, and businesses. Work was also underway to promote developer financing through a dedicated committee.
Rs448 Billion in Housing Loans Approved
The meeting was informed that 75,198 loans worth Rs448 billion had been approved under the Apna Ghar Scheme. Of this amount, Rs76 billion had been disbursed to 14,000 people.
The government has set a target of providing Rs700 billion in housing finance during the current year. This funding is expected to support 125,000 residential units.
To simplify the application process, authorities reduced the processing period to 15 working days. Applicants are now required to submit five documents instead of the previous 25.
The government also plans to make housing finance procedures more straightforward. Officials are reviewing ways to improve the process and help eligible applicants access loans more easily.
Agricultural Lending Reaches Rs1,352 Billion
The meeting also reviewed progress in agricultural financing. Officials reported that agricultural loans had reached Rs1,352 billion, benefiting approximately 3.455 million people.
By June 2027, the government aims to increase agricultural lending to Rs1,500 billion. It also plans to expand the number of beneficiaries to 4.5 million.
These targets are intended to improve farmers’ access to financial resources. Better access to credit can help farmers meet agricultural expenses and support their operations.
SME Financing Reaches Rs1,137 Billion
Officials reported that banks had provided Rs1,137 billion in loans to more than 352,000 business owners. The government aims to increase SME lending to Rs1,500 billion by June 2027.
It also plans to expand the number of businesses receiving loans to 575,000. Authorities are working to revise SME regulations and simplify financing procedures.
The meeting reviewed steps to improve lending across all three priority sectors. Officials also discussed measures to strengthen banks’ role in supporting economic activity.
PM Directs Banks to Improve Lending
Prime Minister Shehbaz Sharif said timely financing for housing, agriculture, and SMEs was important for economic growth. He appreciated banks contributing to these sectors and urged others to improve their performance.
He directed relevant ministries, senior officials, and the State Bank of Pakistan to consult stakeholders. The consultations will focus on improving existing financing schemes and making them more effective.
The prime minister instructed authorities to complete the consultation process by the end of the month. They must then submit recommendations for further improvements.
Government Plans to Revive PASSCO Warehouses
The prime minister also directed officials to restore inactive PASSCO warehouses and silos through public-private partnerships. The initiative aims to expand storage facilities and help farmers store their produce safely.
He appreciated Allied Bank’s model of providing loans against stored agricultural commodities. He asked officials to explore expanding this approach with greater private-sector participation.
The meeting also discussed Allied Bank’s proposed investment in an SME park.
Further Changes Planned for Housing Finance
The prime minister called for additional simplification of the Apna Ghar Scheme application process. He also directed authorities to make clear property title deeds more accessible for housing finance applicants.
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The committee responsible for developer financing was instructed to submit its recommendations promptly. These measures aim to improve access to housing loans and strengthen financing support for eligible applicants.
