Rebuttal to ‘Half a roof no Roof at all’—II

This is apropos an article published by Business Recorder under the title “Half a Roof No Roof at All” written by Hanzla Jalil, a research economist at PIDE. The following is the second and last part of a two-part rebuttal to the article (the first part was carried in its yesterday’s issue by the newspaper).

3. Designed to meet the purpose — not theoretical ideals

The programme was never intended as a luxury mortgage product. It is a targeted social credit intervention designed to help low- and middle-income families begin or complete home construction — a segment historically excluded from formal housing finance.

The claim that Rs 1.5 million “cannot build a house” reflects a limited and urban-centric understanding of construction realities. Such calculations and assumptions are often made by observers far removed from ground realities — where low-income families skillfully reduce costs by using locally available materials, relying on community support, and contributing their own labour to construction.

Pakistan’s incremental housing culture represents a meaningful step toward a final and secure ownership. The ACAG scheme recognizes this social and cultural reality rather than imposing an unrealistic borrowed financial model.

Rebuttal to ‘Half a roof no Roof at all’—I

The suggestion that higher loan ceilings are necessary reflects a misunderstanding of the scheme’s social mission.

Raising the loan limit to Rs. 4.5 million would simply replicate conventional banking products and exclude the very population — low-income, unbanked, first-time homeowners — that ACAG was designed to empower. Instead, the programme delivers smart, scalable credit support where it is needed most, without burdening borrowers with unmanageable debt.

4. Real impact versus speculative criticism

While the article speculates about “half roofs,” reality tells a very different story. Around 20,000 completed homes now stand as proof of concept — families who have already moved into safer, more dignified living conditions. These are tangible, on-ground outcomes — not theoretical projections. The programme is also stimulating local economies by generating employment in construction trades, increasing demand for materials, and supporting small-scale labor markets across Punjab.

5. Dismissing the scheme ignores its social mission

The ACAG scheme’s core is social inclusion, dignity, and asset creation. For the first time, thousands of families locked out of traditional banking and mortgage systems have been given access to affordable, structured housing finance.

This is not about “half a roof” — it is about a real roof where none existed before, and about giving people a sense of ownership, stability, and empowerment.

6. Moving forward

Before forming critical opinions about the Apni Chat Apna Ghar (ACAG) scheme, it is essential to understand the programme objectives, implementation mechanism, visit the completed houses and meet the actual beneficiaries who are now living under roofs built through this initiative. On-ground evidence — completed houses, and the satisfaction of families — speaks far louder than assumptions drawn from afar. The implementing team remains fully open to facilitating such visits by anyone if needed by any stakeholder, journalist, or policymaker who wishes to understand the program dynamics.

Instead of focusing on misplaced criticism, the discussion should now center on consolidating and scaling up the program’s early successes:

• Expanding access to meet the demonstrated demand.

• Adjusting loan ceilings periodically to reflect rising construction costs.

• Exploring replication at the national level, given the program’s proven operational success and social impact.

The Apni Chat Apna Ghar (ACAG) scheme is a bold and practical step toward addressing Pakistan’s chronic housing shortage for lower- and middle-income families. With 86,000 loans booked, 20,000 homes completed, and a transparent, verifiable process underpinning every disbursement, it has proven its viability, integrity, and impact.

In an environment where many public initiatives struggle to achieve sustainability, the ACAG scheme stands out for its integrity, transparency, recovery performance, and life-changing social impact — a model of inclusive housing finance that deserves recognition, not dismissal. This is not about “half a roof.” It is about thousands of full roofs, real homes, and families taking their first concrete step toward stability, dignity, and inclusion — the very purpose for which the program was designed.—Concluded

The Bank of Punjab (Lahore)

Copyright Business Recorder, 2025