Govt launches scheme to promote affordable housing finance

In a bid to boost affordable housing in the country, the government of Pakistan has introduced a new Markup Subsidy and Risk Sharing Scheme under the title “Mera Ghar-Mera Ashiana” for Affordable Housing Finance. The initiative is aimed at enabling first-time homeowners to purchase or build small housing units at subsidised rates through participating banks and financial institutions. According to State Bank of Pakistan (SBP), the scheme will cover the purchase of houses, flats, and plots, as well as construction of homes on already owned land. The maximum size of a unit eligible under the scheme is a house of up to 5 marla or a flat/ apartment of up to 1,360 square feet.