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K-P Introduces Interest-Free Loans for Home Construction and Renovation

December 6, 2024
in Pakistan
K-P Introduces Interest-Free Loans for Home Construction and Renovation

KP government has introduced the ‘Ehsaas Apna Ghar Scheme,’ aimed at helping low-income families build or improve their homes. Through this program, eligible families can apply for interest-free loans of up to Rs 1.5 million.

The initiative was launched through an agreement between the KP Housing Department and the Bank of Khyber. The signing ceremony was attended by Chief Minister Ali Amin Gandapur, along with other cabinet members and officials.

The program’s primary goal is to support families in constructing, renovating, or expanding their houses. To fund this initiative, the government has allocated Rs 4 billion.

The loan repayment period is set for seven years, making it easier for borrowers to manage. The maximum monthly installment will be Rs 18,000, ensuring affordability. Applicants must own land to qualify for the scheme, which will remain active for seven years.

The Ehsaas Apna Ghar Scheme is expected to provide significant relief to low-income families who struggle to secure funds for housing. By offering interest-free loans, the government hopes to improve living conditions and promote economic stability in the region.

This program is part of a broader effort by the KP government to uplift underprivileged communities and ensure access to better housing facilities, empowering families to achieve a more secure future.

Tags: ConstructionhomeInterestFreeIntroducesLOANSRenovation
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