PM’s Apna Ghar Scheme Targets 150,000 Homes by June 2027

The federal government has allocated Rs. 71 billion in subsidies for the Prime Minister’s Apna Ghar Scheme in the FY2026-27 budget, with a target of financing 150,000 homes by June 2027, the State Bank of Pakistan (SBP) announced on Thursday.

Speaking at a media briefing on housing finance, SBP Executive Director of the Islamic Finance Group, Ghulam Muhammad Abbasi, said the initiative is designed to tackle Pakistan’s growing housing shortage by making home financing more affordable for low and middle-income families.

Abbasi said the scheme has progressed more slowly than expected, but the SBP and participating banks are working to speed up loan disbursements to meet the target by the end of FY2026-27.

Since the launch of the programme, banks have disbursed Rs. 27 billion in housing loans. As of June 30, 2026, total outstanding housing finance stood at Rs. 293 billion, benefiting 65,414 borrowers. Commercial banks accounted for Rs. 262 billion of the financing, while microfinance banks disbursed Rs. 36.1 billion.

The scheme has received around 107,000 applications, of which 27,000 have been approved and 13,000 rejected, while the remaining applications are under review. Abbasi said applications were mainly rejected due to loan defaults, poor credit histories, or applicants withdrawing their requests during the approval process.

Under the programme, eligible applicants can obtain financing of up to Rs. 10 million to purchase a house, apartment, plot, or construct a home on land they already own.

The financing is available for houses of up to 250 square yards and apartments of up to 1,500 square feet, with a repayment period of up to 20 years. Borrowers will pay a fixed 5 percent markup during the first 10 years.

Abbasi said holders of CNICs, NICOPs, and Pakistan Origin Cards (POCs) are eligible to apply. He added that salaried individuals can apply using salary slips, while freelancers and people working in the informal sector can use alternative documents such as bank statements, electricity bills, and mobile top-up records to establish their repayment capacity.

He also announced that an online application portal is now operational, while a dedicated helpline will be launched soon to assist applicants. The SBP has directed banks not to charge any processing fee under the scheme and to decide on loan applications within 15 days. Borrowers will also be allowed to repay their loans early without any prepayment penalty.