PM likely to okay housing scheme by 11th

ISLAMABAD: For the welfare of low-income segment, a low-cost housing scheme is expected to be approved by Prime Minister Nawaz Sharif by June 11. Minister of State for Housing and Works Barrister Usman Ibrahim on Friday convened a meeting and finalised a report to be presented before the prime minister. The federal government has allocated Rs 6 billion for facilitating the construction of 500,000 low-cost housing units to fill in the shortfall in housing. According to Ibrahim, the federal government was to provide housing credit for low-cost housing units. Banks are to give loans up to Rs 1 million. The federal government is to support in paying back 40 percent of the borrowed amount. At least 25,000 families are expected to benefit from this scheme.

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