LAHORE: To provide interest-free loans to the low-income allottees of Naya Pakistan Housing Project (NPHP) for the construction of houses, a Memorandum of Understanding (MoU) was signed between the Punjab Housing and Town Planning Agency (PHATA) and Akhuwat Islamic Microfinance.

PHATA Director General Muhammad Asif Chaudhary and Akhuwat CEO Dr Amjad Saqib signed the MoU in the presence of Punjab Housing and Urban Development Minister Mian Mehmood ur Rasheed, Housing Task Force Punjab General Secretary Atif Ayub Mayo and other officials.

While addressing the ceremony, the Minister said that Rs1 billion will be provided to Akhuwat for the low-income allottees of Naya Pakistan housing project. “In return, Akhuwat will provide interest-free loans to the allottees,” he added.

Copyright Business Recorder, 2021