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CM examines low-cost housing scheme

LAHORE: Caretaker Chief Minister of Punjab Mohsin Naqvi presided over a meeting to evaluate the CM’s Low-Cost Housing Program, and an instruction was given to quickly reassemble the board of the Punjab Housing and Town Planning Agency. The programme attempts to make it easier for persons with modest incomes to get mortgage loans.

The CM demanded a practical strategy for providing low-income borrowers with house loans. It evaluated how small housing loans are issued for PHATA and other programmes, and it also addressed how Rs 80 crore in loans for home construction through Akhuwat Islamic Microfinance are provided.

Every human being has a fundamental right to possess a home, according to Naqvi, who also announced that in collaboration with Akhuwat, interest-free loans will be made available for the construction of homes on lots smaller than five marlas. He argued that by providing low-income individuals with accessible financing to build their homes, economic activity will also expand. He expressed satisfaction at the complete repayment of the Rs 200 million in interest-free loans made through Akhuwat.

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