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PESHAWAR: The Khyber Pakhtunkhwa government has officially launched another scheme aimed at providing interest-free loans to low-income citizens for home construction, renovation, or improvement.
Special Assistant to the Chief Minister on Housing Dr Amjad Ali stated that under the Ehsaas Apna Ghar Scheme, up to Rs1.5 million interest-free loans per applicant would be provided. These loans are targeted at individuals earning less than Rs100,000 per month, with a seven-year repayment period and a fixed monthly installment of Rs18,000.
Eligibility criteria include individuals aged between 18 and 55 years who own a plot or house of five marlas or less. The scheme, rooted in Shariah principles, aims to uplift the province’s poor and lower-middle-class families.
Initially, 5,309 houses will be constructed under the scheme at a cost of Rs4 billion. In the next seven years, the initiative is expected to expand to 11,196 housing units, raising the total cost to approximately Rs8.95 billion.
Applicants must meet several key requirements: they must be residents of Khyber Pakhtunkhwa, aged between 18 and 55 years, and earn less than Rs100,000 per month. Required documentation includes a valid CNIC, an active bank account, a plot ownership certificate or balloting certificate issued by the KP Housing Authority.
The Bank of Khyber has been designated as the service provider for this scheme. The formal agreement with the bank was signed on December 13, 2024, and the plan was approved by the provincial cabinet on October 24, 2024.
The Planning and Development Department has now also given its final approval to implement the project.