Govt signs agreement to provide Rs.5 bln for housing sector

News Image

MG News | November 20, 2019 at 10:55 PM GMT+05:00

0:00

Nov 20, 2019: Ministry of Housing & Works and Akhuwat Islamic Microfinance Wednesday signed an agreement for provision of interest free loans to the poor segments of the society.

The Government of Pakistan would provide Rs 5 billion to M/s Akhuwat for disbursement of small loans throughout the country. The agreement was signed by Dr. Imran Zeb Khan, Secretary Housing & Works on behalf of Government of Pakistan whereas, Dr. Amjad Saqib, Chief Executive Officer M/s Akhuwat signed on behalf of M/s Akhuwat.

Housing is focus area of the present Government & Naya Pakistan Housing Program is flagship initiative which envisages provision of shelter for the citizens of Pakistan.

This agreement is a reflection of this initiative and it will also contribute towards

low-cost housing scheme of present government.

The government has allocated Rs 5 billion for disbursement as an interest free loan for construction of low-cost houses / renovation. The M/s Akhuwat Islamic Microfinance has been selected for the task through competitive process under PPRA rules. As per salient features of this agreement, the loans will be provided to poor and deserving families of Pakistan under this project will be interest free.

The loan will be utilized to construct new houses, additional rooms, kitchen and bath room including renovation and up-gradation with loan amount upto Rs.1 million. There will be application processing fee and the loan will be recovered on monthly installment basis from 24th to 60th installments.

APP

Related News

Name Price/Vol %Chg/NChg
KSE100 136,221.83
222.44M
1.43%
1922.06
ALLSHR 84,996.53
713.80M
1.16%
978.37
KSE30 41,435.31
79.13M
1.52%
621.02
KMI30 193,144.91
70.70M
0.29%
555.75
KMIALLSHR 56,327.49
312.85M
0.46%
255.25
BKTi 38,317.40
29.24M
3.64%
1345.65
OGTi 28,105.60
4.55M
-0.48%
-134.67
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 122,530.00 123,615.00
118,675.00
4000.00
3.37%
BRENT CRUDE 70.80 71.29
70.35
0.44
0.63%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.25
0.26%
ROTTERDAM COAL MONTHLY 108.75 0.00
0.00
0.05
0.05%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.89 69.39
68.41
0.44
0.64%
SUGAR #11 WORLD 16.59 16.67
16.53
0.02
0.12%

Chart of the Day


Latest News
July 14, 2025 at 02:33 PM GMT+05:00

BoE signals bigger rate cuts on jobs slowdown


July 14, 2025 at 02:16 PM GMT+05:00

Saudi Riyal available at PKR 76.8 in open market


July 14, 2025 at 01:06 PM GMT+05:00

OGDC leads State-Owned firms in H1 FY25 profits


July 14, 2025 at 12:24 PM GMT+05:00

NHA tops SOE losses with around Rs2tr accumulated deficit


July 14, 2025 at 12:11 PM GMT+05:00

IHC suspends earlier ruling against TRG Pakistan



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg