ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday inaugurated a “landmark” five-year housing programme, the “Wazir-e-Azam Apna Ghar Programme,” aimed at constructing 500,000 homes nationwide at a total cost of Rs3.2 trillion.
The initiative aims to provide affordable housing for low-income citizens while stimulating economic growth across multiple sectors.
It sets a target of 50,000 homes in the first year, with a cumulative goal of 500,000 homes over the following four years.
Speaking at the launch ceremony, the prime minister described the programme as “one of the most significant endeavours of my tenure,” highlighting its dual role in facilitating homeownership and acting as an economic catalyst.
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“No programme is quite as dear to me as this. It holds the promise of revitalising our industrial and commercial sectors while paving the way for economic prosperity,” he said, stressing that the initiative had been formulated after “extensive deliberations and tireless effort,” overcoming numerous challenges.
The PM framed the scheme as a core governmental obligation, intended to support citizens who have long been deprived of housing security. He outlined plans to integrate the programme into the forthcoming federal budget and emphasised the construction sector’s central role in job creation, industrial growth, and skill development.
During the ceremony, Sharif symbolically launched the programme and distributed cheques from participating banks to early beneficiaries.
He drew parallels with the Ashiana Housing Scheme, which he had initiated as Chief Minister Punjab, noting that the new programme would extend across all four provinces, as well as Azad Jammu and Kashmir (AJK) and Gilgit-Baltistan (GB).
Outlining the details of the programme, he said the government had set a target of funding 50,000 homes in the first year, with Rs321 billion earmarked for the initiative.
The prime minister said home loans of up to Rs10 million would be made available on favourable terms, repayable over 20 years, with borrowers benefiting from a subsidised interest rate of 5 per cent for the first decade before market rates apply.
“The eligible applicants will be able to construct houses on plots of up to 10 marlas,” he added.
Sharif thanked Finance Minister Muhammad Aurangzeb and the Governor State Bank of Pakistan (SBP) for their cooperation in finalising the financing arrangements.
Copyright Business Recorder, 2026
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