The State Bank of Pakistan (SBP) has barred employees of banks and financial institutions from using the government’s Apna Ghar housing finance scheme.
The decision applies to employees of commercial banks, development finance institutions, and microfinance banks. These employees will not be eligible to apply for financing under the program.
The scheme is officially known as the Wazir-e-Azam Apna Ghar Program. It was introduced to help Pakistani citizens access affordable housing finance.
SBP has instructed banks and other relevant financial institutions to inform their employees about the new restriction. The direction applies to institutions involved in providing housing finance under the scheme.
The move also clarifies an important distinction for financial sector employees. Staff members who help process housing loans for the public cannot personally benefit from the same facility.
The Apna Ghar scheme provides financial support for several housing-related purposes. Eligible applicants can use the facility to purchase houses or apartments. They can also finance the purchase of plots and home construction.
The program also supports construction on land already owned by applicants. The government has introduced profit subsidies and risk-sharing arrangements under the scheme.
The housing facility has specific limits for eligible properties. It covers houses measuring up to 10 marla. Flats measuring up to 1,500 square feet are also covered.
The maximum financing amount under the program is Rs. 10 million. Customers can receive financing at a fixed rate of 5 percent.
The repayment period can extend for as long as 20 years. The government provides a markup subsidy during the first 10 years.
The scheme also offers other financial benefits to eligible applicants. Borrowers are not required to pay processing fees under the program. There are also no penalties for early repayment.
The latest SBP directive focuses specifically on employees working within financial institutions. It does not change the scheme’s stated purpose of supporting affordable housing for Pakistani citizens.
The central bank’s instructions are intended to ensure that employees of participating financial institutions understand their eligibility status. Banks, development finance institutions, and microfinance banks must communicate the decision to their staff.
The SBP decision adds a specific restriction to the eligibility framework surrounding the government’s housing finance initiative. The Apna Ghar program continues to provide subsidized housing finance for eligible members of the public.
The development comes as housing finance remains an important part of efforts to improve access to home ownership. The government’s scheme combines subsidized financing with extended repayment options.
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For ordinary applicants, the program continues to cover home purchases, flats, plots, and construction. However, employees of covered financial institutions are excluded from benefiting from the facility under the latest SBP direction.
