Approved housing finance crosses Rs313 billion as government scheme boosts construction and investment activity
ISLAMABAD: Housing finance under the Prime Minister’s Apna Ghar Scheme has surged by 117 per cent in just two months, with approved financing exceeding Rs313 billion, highlighting growing demand for affordable housing and construction activity across Pakistan.
According to the latest figures released by the Ministry of Finance on Wednesday, more than 53,100 housing loans have been approved under the initiative, while over Rs45 billion has already been disbursed to beneficiaries.
The sharp increase in housing finance is expected to generate economic activity beyond home ownership by boosting demand for construction materials, creating employment and supporting small and medium-sized enterprises (SMEs) involved in the housing and construction sectors.
The expanding flow of housing finance is also creating potential investment opportunities for domestic and international investors in construction, building materials, housing development, allied services and other related industries.
Pakistan faces major housing shortage
Pakistan continues to face a substantial housing deficit, estimated at around 10 to 12 million housing units, underlining the scale of unmet demand across the country.
The growing housing finance market could therefore become an important catalyst for economic activity by linking home ownership with investment, employment generation and wider economic growth.
The expansion of financing under the PM Apna Ghar Scheme is increasingly connecting housing, investment, employment and economic growth, as greater access to finance supports construction activity and stimulates demand across related industries.
Higher housing investment can also benefit manufacturers and suppliers of cement, steel, bricks, electrical equipment, sanitary products and other construction materials, while creating opportunities for contractors, developers and allied service providers.
The government’s housing finance initiative is consequently emerging as an important channel for stimulating activity across multiple segments of the economy while helping address Pakistan’s longstanding housing shortage.