Pakistan has reduced the paperwork required for its Apna Ghar housing scheme from 25 documents to just five, while limiting loan application processing to 15 working days to make home financing easier for applicants.
This was revealed when Prime Minister Shehbaz Sharif reviewed the scheme during a meeting on Wednesday.
Shehbaz directed the relevant authorities to simplify the application process further and make it easier for applicants to obtain clear property ownership documents required for housing finance.
He also asked the State Bank of Pakistan and relevant ministries to consult stakeholders and recommend measures to improve housing, agriculture and small business financing by the end of October.
The meeting was also informed that agricultural loans had reached Rs. 1,352 billion. The government aims to increase agricultural lending to Rs. 1,500 billion and expand the number of beneficiaries to 4.5 million by June 2027.
Meanwhile, more than 352,000 small and medium-sized businesses have received loans worth Rs. 1,137 billion. The government plans to raise SME lending to Rs. 1,500 billion and increase the number of borrowing businesses to 575,000 by June 2027.
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