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Federal Government Suspends Mera Pakistan Mera Ghar Housing Scheme

Mera Pakistan Mera Ghar Housing Scheme Banner

According to the latest news, the federal government has decided to temporarily suspend the Mera Pakistan Mera Ghar Housing Scheme amidst the economical unrest and inflation in the country.

Mera Pakistan Mera Ghar Scheme was a low-cost and affordable housing society that was introduced by the last government; this scheme is now suspended by the present government. However, the government assured the people of strict protection who have already put money into the mentioned housing program. So, investments of the general public are safe, moreover, this affordable housing scheme is temporarily suspended and chances are that it will be launched again when economy of the country stabilizes.

Mera Pakistan Mera Ghar Housing Scheme was launched in 2020; it was fully operational and provided low-income people with convenient home-building loans to construct houses. This scheme has been providing loans at subsidized rates, making it a far better option as compared to loan schemes of commercial banks. During its tenure, the scheme distributed around PKR 10 million, and mark-up was as low as 3% to 9% for the first ten years and switched to market rates after that.

As more and more government-oriented housing schemes are closing, low-income people in the country are losing chances to fulfill the dreams of their own homes. Government is likely to continue this housing scheme when the economy becomes stable because there are limited financial resources at present in Pakistan.

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