A Memorandum of Understanding (MoU) has been approved, on Friday for the requirement of interest-free loans for the construction of houses under Naya Pakistan Housing project.

The MoU was signed amongst Punjab Housing and Town Planning Agency and Akhuwat. It was ratified by DG PHTPA Nadeem Sawar and Akhuwat Chief Dr Amjad Saqib.

The signing procession was followed by Punjab’s Housing Minister Mian Mehmoodur Rasheed and Secretary Housing Nadeem Mehboob.

Communicating his joy over the signing of the MoU for provision of interest free loans for construction of houses under Naya Pakistan Housing project, the minister announced loan of Rs. 0.5 would be delivered to the proprietors of three marla plot holders for building.

On July 11, previous year, Prime Minister Imran Khan had laid the establishment stone of a new phase of Naya Pakistan Housing Scheme in Islamabad’s Zone 4.

PM Imran Khan, while dealing with the ceremony, had conveyed his happiness over the initiation of the Naya Pakistan Housing Scheme and pledged to broaden the project to other parts of the country.

Furthermore, a total of 413,390 interest free loans were provided from July-September 2019 to the most underprivileged families throughout the country under National Poverty Graduation Initiative (NPGI) of Ehsaas program of the government

The interest free loan is an ingredient of NPGI is being implemented through Pakistan Poverty Alleviation Fund (PPAF).The range of interest free loans is PKR 20,000 to Rs. 75,000.

NPGI is aimed at ensuring uplift of impoverished women through delivering them interest free loans, assets and vocational skills, enabling them to run their small businesses for becoming self-sufficient.

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