ISLAMABAD – The processing time for applications under the Prime Minister’s Apna Ghar Scheme has been reduced to 15 working days, while the number of required documents has been cut from 25 to just five to facilitate applicants.
The decision was announced during a high-level meeting chaired by Prime Minister Shehbaz Sharif to review access to financing and loans for housing, small and medium-sized enterprises (SMEs), and the agricultural sector.
Federal ministers Rana Tanveer Hussain, Dr Musadik Masood Malik, Attaullah Tarar, Riaz Hussain Pirzada, Ahsan Khan Cheema and Shaza Fatima Khawaja attended the meeting, along with Prime Minister’s Adviser Haroon Akhtar, Minister of State for Finance Bilal Azhar Kiani, chief executive officers of several banks and senior officials of relevant institutions.
The meeting was briefed on lending figures for the housing, agriculture and SME sectors. Officials said banks were strengthening their institutional capacity to extend financing to all three priority sectors. Work was also underway to promote developer financing, for which a committee had been established.
Rs448 Billion in Housing Loans Approved
The meeting was informed that 75,198 loans worth Rs448 billion had so far been approved under the Prime Minister’s Apna Ghar Scheme. Of these, loans amounting to Rs76 billion had been disbursed to 14,000 people.
For the current year, a target has been set to provide Rs700 billion in housing finance for 125,000 residential units.
To make the process easier for applicants, the processing period for housing finance applications has been reduced to 15 working days, while the documentation requirement has been cut from 25 documents to just five.
Agricultural Loans Reach Rs1,352 Billion
The meeting was informed that total agricultural lending 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 and the number of beneficiaries to 4.5 million.
In the SME sector, loans worth Rs1,137 billion have been provided to more than 352,000 business owners.
The targets for June 2027 include increasing SME lending to Rs1,500 billion and expanding the number of businesses receiving loans to 575,000.
Officials also briefed the meeting on measures being taken to revise SME regulations and further simplify and improve housing finance procedures.
PM Calls for Timely Financing to Boost Economy
Prime Minister Shehbaz Sharif said the timely provision of loans to the housing, SME and agricultural sectors was essential for strengthening the national economy.
He appreciated banks that were actively contributing to financing these priority sectors and urged those with unsatisfactory performance to improve their lending efforts so they could also benefit from government encouragement.
The prime minister directed the relevant ministries, secretaries and the State Bank of Pakistan to consult stakeholders associated with SME financing, agriculture and housing finance.
He instructed the authorities to complete the consultation process by the end of the current month and submit recommendations aimed at making ongoing schemes more effective and results-oriented.
PM Orders Revival of PASSCO Warehouses
The prime minister also directed officials to arrange the operation of inactive PASSCO warehouses and silos under a public-private partnership model.
He said collaboration with the private sector should help expand storage capacity and enable farmers to store their agricultural produce safely.
Shehbaz Sharif appreciated Allied Bank’s model of establishing grain storage warehouses and providing loans to farmers against their stored commodities. He directed officials to expand the model with greater private-sector participation.
The prime minister also welcomed Allied Bank’s investment plan for a proposed SME park.
PM Seeks Further Simplification of Housing Scheme
The prime minister directed officials to simplify the documentation and information submission process for people seeking to benefit from the Apna Ghar housing scheme.
He also called for easier access to clear and unencumbered property title deeds required for housing finance.
In addition, he instructed the committee dealing with developer financing to finalise and submit its recommendations as soon as possible.
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