The Khyber Pakhtunkhwa government has announced an interest-free credit package worth up to Rs1.5 million for house building.
The Khyber Pakhtunkhwa homes Department and the Bank of Khyber signed a memorandum of understanding (MoU) today under the Ehsaas Apna Ghar plan, which seeks to offer low-income people with high-quality homes. In Peshawar, the signing ceremony was held at the Chief Minister’s residence.
For the purpose of building new homes or remodeling existing ones, interest-free loans up to Rs1.5 million would be made accessible under this project. With a budget of Rs4 billion, the plan demonstrates the province government’s dedication to enhancing housing amenities, according to Chief Minister Ali Amin Gandapur.
The loans have a seven-year payback period and a Rs18,000 monthly installment maximum. For the following seven years, the plan will run on a revolving fund basis. However, in order to be eligible for the loan, applicants must be landowners.
The program would improve the socioeconomic well-being of the province’s citizens, CM Gandapur underlined. To guarantee that only worthy people profit from the program, he gave authorities instructions to maintain openness throughout the loan disbursement procedure.
