The Punjab government has announced additional facilities for beneficiaries of the Apni Chhat Apna Ghar programme, including rebates on early repayment of interest-free housing loans.
The decision was discussed at a high-level meeting held on the directions of the Secretary Housing and chaired by Director General PHATA, Sikandar Zeeshan. Programme Director Mirza Waleed Baig and senior officials attended the meeting.
Representatives of Akhuwat, the National Rural Support Programme (NRSP) and other microfinance institutions presented operational proposals aimed at easing loan recovery and improving beneficiary support. The DG PHATA directed officials to finalise standard operating procedures for the implementation of the proposed incentives at the earliest.
The meeting recommended that beneficiaries who repay their interest-free loans ahead of schedule should be offered a rebate of up to 20 percent. It was also proposed that the loan be waived in case of the borrower’s death during the repayment period, while special concessions may be granted in cases of permanent disability.
Speaking on the occasion, Sikandar Zeeshan said the measures were being planned in line with the directives of the Chief Minister Punjab to further facilitate borrowers. He said the rebate would apply to those who repay their 10-year loan within three to six years.
Officials recalled that under the Apni Chhat Apna Ghar programme, citizens are provided interest-free loans of up to Rs1.5 million for a period of 10 years to construct their own houses. The proposed SOPs will soon be submitted to Provincial Minister for Housing Bilal Yasin and the Secretary Housing for approval.
According to officials, the purpose of offering rebates is to reduce the financial burden on beneficiaries and to ensure that funds recovered ahead of time can be reused to help more families build their homes.
