ECC Accepts Rs 72 bn Housing Subsidy Programme
The Economic Coordination Committee has endorsed a Rs 72 billion housing subsidy that will facilitate the construction or purchase of homes by the low and middle-income families. The scheme will provide loans up to Rs 3.5 million with fixed interest rates of 5-8% in the first 10 years. The government will incur interest of Rs 62 billion and provision of Rs 10 billion in case of defaults, and approximately 50,000 beneficiaries are expected this year.
