Obtaining a home loan under the government’s Apna Ghar Program has become easier following the introduction of a new financing framework.
The Securities and Exchange Commission of Pakistan (SECP) has expanded housing finance options by allowing non-banking finance companies (NBFCs) to participate in the Prime Minister’s Apna Ghar Program.
The federal government has formally approved the inclusion of NBFCs in the scheme. According to the SECP, non-banking housing finance companies and investment finance companies will now be able to provide housing loans of up to Rs10 million.
As part of the initiative, the SECP has also introduced a new framework for housing finance.
The regulator said that citizens without traditional bank accounts will now be able to access housing finance on easier terms.
Under the scheme, microfinance companies will be authorized to provide loans of up to Rs5 million. Borrowers will be able to obtain financing at a subsidized 5% markup for the first 10 years.
The SECP added that NBFCs have extensive digital networks and operations in remote and underserved areas, enabling greater access to financing for ordinary citizens.
These companies will also be allowed to provide loans in collaboration with banks and other financial institutions, a move expected to expand financial inclusion in Pakistan’s housing sector.
