Housing finance procedures under NPHS to be simplified: PM

Housing Finance

ISLAMABAD: Prime Minister Imran Khan on Sunday directed the banks to simplify housing finance procedures under the Naya Pakistan Housing Scheme (NPHS) for the benefit of low-income groups.

While addressing the telethon on low-cost housing, the PM was of the view that NPHS will invigorate the construction sector of the country which will transform the economic landscape of Pakistan.

Furthermore, the PM directed the National Bank of Pakistan (NBP) to extend loan facilities to the applicants and to provide easy loans to cashless people.

Similarly, the PM has intended to increase the loan limit by 100pc.

While speaking at the occasion, the Prime Minister was of the view that the rent paid on each unit will act as an installment of the total cost as determined in the mortgage system.

Earlier, the markup rates under NPHS have been reduced to 3pc and 5pc by the government for facilitating the low-income groups.

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