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HomeLatest NewsOver 8,000 apply for mark-up funding under Naya Pakistan Housing Program

Over 8,000 apply for mark-up funding under Naya Pakistan Housing Program

Islamabad: In a recent report, the governor of the State Bank Reza Bagir informed Prime Minster Imran Khan, that a total of 8,000 individuals have applied for mark-up subsidy scheme under the Naya Pakistan Housing Program (NPHP) and 1,820 of these applications have already been approved. He also added that steps are being taken to approve the remaining applications as soon as possible and that the applications have an outlay of about Rs. 5 billion.

Read More: Loans under Naya Pakistan Housing Project approved for 7,572 affordable homes across Pakistan

The Prime Minister was chairing the meeting of the National Coordination Committee on Housing, Construction and Development. The meeting also reviewed the progress of construction activities underway across the country and the progress on the provision of loans by the banks to builders, developers, and especially the low-income groups.

The meeting was informed that for the first time in the history of the country, a standard application form was being used by all banks for extending credit facility to the low-income groups.

Read More: 4,000 Kanals of state land recognized for Naya Pakistan Housing Project in Lahore

The Prime Minister was additionally advised that a memorandum of understanding (MoU) has been endorsed with two banks to take into account the sections of the populace not covered under the public authority’s plan. Under this plan, no roof advances will be accommodated in the development and acquisition of homes.

For more details visit our website Property News.


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