Kallar Syedan women hold March against inflation and petrol levy

KARACHI: For millions of teachers, clerks, nurses and daily-wage workers, owning a house has felt like a distant dream. Caught between skyrocketing rents and banks that rarely lend to them, they have spent years waiting for a break. Now, with the Prime Minister’s “Apna Ghar” scheme offering subsidized 20-year loans, that wait may finally be over — if the government can fix the loopholes that sank similar programs in the past. With rents climbing and home ownership slipping further out of reach, the government’s new housing finance push is back in focus. The Prime Minister’s “Apna Ghar” housing scheme unveils a 20-year financing plan backed by Rs 71 billion in federal subsidies allocated in the budget. The urgency is clear: Pakistan faces a housing shortfall of over 10 million units, with demand growing each year due to urbanization and population growth. The State Bank of Pakistan arranged a workshop on the Prime Minister’s Housing Scheme — Wazir-e-Azam Apna Ghar Program — to roll out salient features including financing structure, loan amount, tenure, income requirements, and monthly installment. According to SBP officials Ghulam Muhammad Abbasi, Executive Director, and Dr. Muhammad Saleem, Additional Director, the scheme aims to finance 150,000 houses by June 2027. Under the program, banks will provide loans of up to Rs 10 million for purchase of a ready-made house, flat, or plot, or for construction on a plot. A house of up to 250 square yards and a flat of up to 1500 square feet will be eligible. The loan tenure is 20 years, with a fixed markup of 5% for the first 10 years. Who can apply and how? Salaried individuals can apply with a salary slip, while non-salaried applicants including shopkeepers and daily wage workers can use electricity bills, mobile top-ups, children’s fee challans or other expense receipts as income proof, the State Bank said. An applicant can apply with 3 to 4 co-borrowers — father with sons, brothers with sisters, or husband with wife. The main applicant must not own any property; if found otherwise, the loan will be cancelled. An online portal has been created for applications, and forms are also available at bank counters. “Banks will not charge any processing fee, nor any penalty on balloon payment,” an SBP official added. “Banks will process an application in 15 days. For any complaint, applicants can lodge it on the Prime Minister’s portal against the bank or officer.” To accelerate home ownership and boost construction, the government has expanded the scheme to include overseas Pakistanis. Overseas Pakistanis/Non-Resident Pakistanis holding NICOP/POC may also obtain financing. Participating Financial Institutions may also extend financing for private developer-led housing projects. Housing: A basic need slipping away For Pakistan’s lower and middle class, owning a home has become unaffordable. Rising property prices, inflation, and lack of access to formal credit have widened the 10-million-unit housing gap. Most families either live in rented accommodations, spending 40-50% of income on rent, or in informal settlements without basic facilities. For this segment, “Apna Ghar” could be the first real chance to move from rent to ownership — provided installments stay within budget. The Benefits: Housing for the missing middle 1. Affordability: 5% fixed markup for 10 years is significantly lower than market mortgage rates. 2. Inclusion: Alternate income proof and NICOP/POC access opens doors for informal workers and overseas Pakistanis. 3. No hidden costs: Zero processing fee and a dedicated portal reduce bureaucratic hurdles. 4. Economic boost: Financing 1.5 lakh units will give a direct push to construction, cement, steel, and labor. The Shortcomings and Challenges The scheme may end up benefiting the middle class more than the poor it targets. Most low-income families live in katchi abadis with no legal land titles, which banks require. Without land regularization, the poorest remain excluded. Other challenges: 1. Scale vs Need: 150,000 homes by 2027 address only 1.5% of the 10-million-unit shortage. 2. Bank appetite: Banks have historically avoided mortgage lending due to documentation and recovery risks. 3. Land and title issues: The scheme assumes legal plots, a major bottleneck in cities like Karachi. 4. Affordability ceiling: Rs 10 million cap and installments may still be unaffordable for the poorest. 5. Implementation: SBP’s 15-day timeline will be tested, as past schemes struggled with delays. Skepticism on the ground But for many, doubt runs deep. “We pay Rs 25,000 rent every month. Owning a house feels like a dream,” said Ali, a private school teacher from Nazimabad. “Every time the government announces a scheme, I hear the same thing — in the end, the rich will take loans in the name of their drivers and peons. Let a few months pass. Then we’ll know if this system is transparent or just another test case.” That reflects three questions: Will it reach the right people? Will the process be clean? Will the intent hold? With the scheme only a few months old, experts say implementation will be the real test. Transparency concerns Applicants and housing experts pointed out banks’ history of demanding informal payments to process files. With “Apna Ghar” relying on banks, many wonder how SBP will ensure it remains bribe-free and trackable. The SBP Executive Director said an online portal has been launched and complaints can be registered directly with the Prime Minister’s or SBP portal. “Strict action will be taken against banks charging fees or demanding bribes,” he said. Economic boom Apna Ghar can bring Economists say the push can do more than provide roofs — it can revive construction and the economy. The sector contributes nearly 2.5% to GDP and employs over 8 million people directly. Every house is estimated to create 8-10 direct and 20-25 indirect jobs. With demand for 150,000 units against a backlog of 10 million, orders for cement, steel, bricks and labor are expected to rise. SBP notes housing has one of the highest fiscal multipliers. If targeted well, it could cut into the housing backlog while acting as a grassroots stimulus. An opportunity For Shahbaz-led government to

KARACHI: Karachi Mayor Barrister Murtaza Wahab has announced that Regal Chowk will officially be renamed Khatm-e-Nabuwwat (PBUH) Chowk. The decision was announced during his visit to the historic intersection along with the Municipal Commissioner and members of the City Council. The mayor said the Karachi Metropolitan Corporation (KMC) would carry out extensive renovation and beautification work at the site before the start of Rabi-ul-Awwal. He said the project aims to improve the appearance of the area while reflecting the significance of the holy month. Barrister Murtaza Wahab said the city administration had already started preparations for Rabi-ul-Awwal. He added that special arrangements would be made across Karachi to facilitate religious gatherings and ensure that citizens could observe the month in a peaceful and clean environment. He said a comprehensive cleanliness campaign would be launched throughout the city. Sanitation staff would remain active in all districts to maintain hygiene around mosques, religious processions and public places. Waste collection and disposal operations would also be intensified during the month. The mayor announced that decorative lighting and beautification work would be carried out on major roads, intersections and important public buildings. He said these measures were intended to create a festive atmosphere during Rabi-ul-Awwal. He recalled that the Karachi Metropolitan Corporation had successfully managed civic arrangements during Muharram-ul-Haram. According to him, similar planning would be implemented during Rabi-ul-Awwal to provide better services to the public. Barrister Murtaza Wahab said all relevant civic departments, including sanitation, engineering, municipal services and emergency response teams, would remain on high alert throughout the holy month. He directed officials to ensure uninterrupted public services and respond promptly to any issues.

The Senate held a detailed discussion on the health of PTI founder Imran Khan. The discussion was held after a demand by Opposition Leader Allama Raja Nasir Abbas. The Senate proceedings were also suspended to take up the issue. Speaking in the Senate, Raja Nasir Abbas said Imran Khan was facing punishment for crimes he had not committed. He described the former prime minister’s health as a highly sensitive matter. The opposition leader urged the government to show restraint. He said political differences should not lead to anyone being subjected to unnecessary suffering. Raja Nasir Abbas said the government should focus on resolving the country’s problems instead of pursuing political revenge. He also questioned whether the priority was to fix the system or settle political scores. He demanded that Imran Khan be allowed to meet his personal doctors. He said access to proper medical care was essential, particularly because of concerns about the PTI founder’s health. The opposition leader also called for Imran Khan to be shifted to a hospital if necessary. He demanded that a meeting with him should be allowed. Raja Nasir Abbas said such measures could help prevent a serious situation in the future. He stressed that the authorities should take the health concerns seriously. He also called for politicians to be given an opportunity to run the country. He said political issues should be resolved through political means. The opposition leader also raised the issue of PTI women who are currently in prison. He called for greater attention to their situation. During the debate, Raja Nasir Abbas addressed PML-N Senator Rana Sanaullah. He said Rana Sanaullah knew that the cases against him had not been filed by politicians. Rana Sanaullah responded by asking Raja Nasir Abbas who had filed the case against him. The exchange highlighted the political tensions between the government and opposition benches in the Senate. The debate also brought renewed attention to Imran Khan’s health and the opposition’s demand for greater access to medical care and personal doctors. Opposition lawmakers have continued to raise concerns about the PTI founder’s condition and have called for his medical needs to be addressed without political considerations.

The Supreme Court of Pakistan has decided to hold a full court reference on August 7 to honour the judicial services of Justice Musarrat Hilali ahead of her retirement from the country’s apex court. An official notification has been issued announcing the ceremony, which will pay tribute to Justice Hilali’s contributions to Pakistan’s judiciary and recognise her years of service on the bench. The full court reference will be attended by Chief Justice of Pakistan Justice Yahya Afridi, all judges of the Supreme Court, the Attorney General for Pakistan, representatives of the Pakistan Bar Council, office-bearers of the Supreme Court Bar Association, and members of the legal fraternity. The event is a longstanding judicial tradition held to acknowledge the professional achievements and public service of retiring judges. During the reference, senior judges, law officers and representatives of the legal community are expected to deliver speeches highlighting Justice Hilali’s legal career, commitment to the rule of law and contributions to the administration of justice. Justice Musarrat Hilali has served in several key judicial positions during her career and has been recognised for her role in strengthening Pakistan’s judicial system. The reference will mark the formal conclusion of her tenure at the Supreme Court while providing an opportunity for colleagues and members of the legal profession to express their appreciation for her dedication and service. The ceremony will take place at the Supreme Court of Pakistan on August 7, where members of the bench and bar will gather to bid farewell to the retiring judge and acknowledge her lasting contribution to the country’s judiciary.