Government Streamlines Apna Ghar Loan Process to Just Five Documents

ISLAMABAD: Prime Minister Shehbaz Sharif has announced a significant reduction in the documentation required for applicants seeking housing loans under the Apna Ghar scheme, now requiring only five documents. This initiative aims to expedite the loan processing time to just 15 business days, enhancing accessibility for citizens in need of housing finance.

In a directive to relevant ministries and the State Bank of Pakistan, Sharif emphasized the importance of consulting stakeholders from the SME, agriculture, and housing finance sectors to finalize the new requirements by the end of this month. This move is part of the government’s broader strategy to stimulate the housing market and support economic growth.

The streamlined process is expected to benefit a large segment of the population, particularly first-time homebuyers and those from lower-income backgrounds, by making housing loans more attainable. By reducing bureaucratic hurdles, the government aims to encourage more citizens to invest in home ownership, which could have a positive ripple effect on the economy.

As the government prepares to implement these changes, stakeholders are urged to provide feedback during the consultation process. The anticipated completion of this initiative by month-end will pave the way for a more efficient housing finance system, potentially leading to increased participation in the Apna Ghar scheme.