ISLAMABAD: Prime Minister Imran Khan’s low-cost housing finance scheme, under which people from low-income backgrounds will be given loans to construct homes, is coming to fruition as Rs3.35 billion have been disbursed for the construction of 7,572 housing units across the country.
The government has earmarked Rs5 billion for the project, while interest-free loans will be provided to people throughthe Akhuwat Islamic Microfinance (AIM) scheme of the Akhuwat Foundation, a non-governmental organisation.
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The recovery ratio of the disbursed amount is 100 per cent and the recovered amount is being utilised again to support more applicants. More than 2,416 applications are under the process of approval.
The beneficiaries of the scheme come from different cities of Pakistan, including Multan, Kasur, Danyor, Attock, Lahore, Bhakkar, Kahna Nau, Bannu, Jahanian, Khanewal, Nowshera, Mianwali, Kasur, and Ghizar among others.