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KP introduces interest-free house loan scheme
In Khyber-Pakhtunkhwa, a new scheme has been launched to provide interest-free loans to low-income individuals for home construction or renovation. Under this scheme, individuals with low incomes will receive interest-free loans of up to Rs1.5 million rupees for constructing a new house or expanding/renovating an existing one. A memorandum of understanding (MoU) was signed between […]
In Khyber-Pakhtunkhwa, a new scheme has been launched to provide interest-free loans to low-income individuals for home construction or renovation.
Under this scheme, individuals with low incomes will receive interest-free loans of up to Rs1.5 million rupees for constructing a new house or expanding/renovating an existing one.
A memorandum of understanding (MoU) was signed between the Housing Department and the Bank of Khyber for the implementation of the Ehsaas Apna Ghar Scheme.
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The MoU signing ceremony was held at the Chief Minister’s House, where Chief Minister of Khyber Pakhtunkhwa Ali Amin Gandapur was the chief guest.
The Ehsaas Apna Ghar Scheme will cost 4 billion rupees. The repayment of the loans will follow an easy schedule spanning seven years, with a maximum monthly installment of 18,000 rupees. The scheme will continue under a revolving funds system for the next seven years. To be eligible for the loan, individuals must own land.
Chief Minister Ali Amin Gandapur, while addressing the ceremony, stated that providing quality housing facilities to the people is one of the current provincial government’s priorities. The launch of the Ehsaas Apna Ghar Scheme is an important part of this effort. He mentioned that the scheme is another welfare initiative by the provincial government.
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Ali Amin Gandapur further stated that this program will provide interest-free loans to low-income people in the province, ensuring the provision of quality housing facilities, which will also help improve their social and economic conditions.
He emphasized that transparency in the disbursement of interest-free loans will be ensured at every level.
The Chief Minister also assured that only deserving individuals would receive these loans. Under the Ehsaas Program, the provincial government has also launched other welfare projects, including Ehsaas Youth, Ehsaas Skills, and Ehsaas Employment.
The Khyber Pakhtunkhwa (K-P) cabinet has approved a compensation package for the victims of the D-Chowk tragedy, including both martyrs and the injured, announced spokesperson Barrister Saif.
According to Barrister Saif, the approved package stipulates that the families of the martyrs will receive a compensation of Rs10 million while the injured will be compensated with Rs1 million.
“As of now, the families of the confirmed martyrs will receive the compensation, and the verification process for the remaining casualties and injured is ongoing,” he added.
Barrister Saif assured that once the verification process for additional victims is completed, compensation will be promptly provided to their families as well.
