Islamabad: Federal Secretary Ministry of Housing and Works (MoHW) Iftikhar Ali Shallwani on Wednesday (July 20) assured Akhuwat foundation of financial support for the extension of its low-cost housing finance initiative, news sources reported on July 21.
According to reports, the secretary was visited by Dr Amjad Saqib, the founder of the Akhuwat Foundation, who informed the ministry of the success of its project. He stated that the government’s previous backing for the effort had enabled many families to get low-cost accommodation.
On the occasion, the secretary stated that the government will assist in expanding the Akhuwat project as part of the Prime Minister’s (PM) low-cost housing plan. He mentioned that one of the primary aims of the PM’s housing initiative is to make low-cost homes accessible to low-income families through well-structured low monthly payments. He also requested that Dr Amjad raise the loan amount due to the rising cost of building materials.
It is worth noting that Dr Amjad’s Akhuwat project provides home loans to low-income families and has been funded by the government with PKR 5 billion under the PM’s low-cost housing plan. Furthermore, the government contributed PKR 2 billion to its Islamic interest-free loan.
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