ISLAMABAD: After witnessing a go-slow policy from the banks, the Economic Coordination Committee (ECC) of the Cabinet on Tuesday approved a summary to scale up the housing finance outreach for the Prime Minister Apna Ghar (PM-APG) Programme. The summary was submitted by the Ministry of Housing and Works.
The committee met on Tuesday at the Finance Division under the chairmanship of Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb.
The revised framework includes institutional financing, public-private partnerships (PPPs), inclusion of overseas Pakistanis and participation of non-banking financial institutions to support the achievement of programme’s targets.
Sources said Prime Minister Shehbaz Sharif had set a target of 0.5 million housing units for the remaining tenure of the government, but the commercial banks adopted the policy of go-slow based on different excuses. The government has now expanded the lender base and included NFBIs and others to speed up lending for the construction of housing units.
The committee also approved a summary submitted by the National Heritage and Culture Division seeking a TSG of Rs59.624 million to meet expenditures incurred on Independence Day/Markaa-e-Haq Celebrations 2025. The ECC approved a summary submitted by the Industries and Production Division for the rollout of second phase of the Pakistan Accelerated Vehicle Electrification (PAVE) Program under the NEV Policy 2025-30. The committee approved proposed adjustments to enhance program efficiency and uptake, including improved verification processes and expanded access, while emphasising the importance of strengthened third-party verification arrangements. The committee also approved a summary submitted by the Federal Education and Professional Training Division seeking a Technical Supplementary Grant (TSG) of Rs100 million for the project titled “Construction of Faiz Ahmad Faiz Complex, Narowal.” The committee also approved another summary from the same division seeking a TSG of Rs350 million for Daanish School Kuri, Islamabad, to meet operational requirements and support essential expenditures following commencement of academic activities. The committee further approved a summary submitted by the Interior and Narcotics Control Division seeking a TSG of Rs2,500 million for Directorate General Immigration & Passports (IMPASS) during FY2025-26 to meet operational requirements, including pay and allowances, production consumables, and outstanding liabilities. The committee also approved a summary submitted by the Power Division for uniform application of Use of System Charges (UoSC) across all DISCOs, including K-Electric, to support a level playing field under the Competitive Trading Bilateral Contract Market (CTBCM). The ECC approved the proposed framework with directions that charges be applied uniformly to all wheeling consumers.
