LAHORE: The Punjab government officially launched its ‘Apni Chhat, Apna Ghar’ (Own Roof, Own House) project on Wednesday, with Chief Minister Maryam Nawaz distributing cheques to beneficiaries.

This initiative, valued at Rs700 billion, aims to construct 500,000 homes over the next five years.

During the launch, the chief minister announced that up to 500,000 applications had already been submitted under the programme.

The government plans to extend loans to all applicants – landowners with plots ranging from one to five marlas in urban areas and one to 10 marlas in rural regions.

Traditionally, obtaining loans can be a challenging process, but the chief minister had asked her government to go for a more accessible approach.

“To secure a loan, applicants will only need to provide their identity card and ownership papers. We will offer loans of Rs100,000 per year through a transparent balloting process. I have instructed that the monthly loan installment for the Apna Ghar programme should not exceed Rs14,000,” she stated.

The programme features zero interest on loans, meaning that borrowers will not have to pay any interest fees. For those receiving a loan of Rs1.5 million, repayment is expected over nine years, with a three-month grace period before the first installment is due.

Ms Nawaz said, “While a surety condition was recommended, I have directed the authorities to trust the people.”

She said the design of the houses had been standardised to ensure uniformity.

Published in Dawn, October 3rd, 2024