The Economic Coordination Committee (ECC) has increased the maximum loan limit under the government’s low-cost housing finance scheme to Rs10 million and approved major technical grants, including Rs6.61 billion for the Thar Coal Rail Connectivity Project.
The ECC met at the Finance Division under the chairmanship of Finance Minister Senator Muhammad Aurangzeb to consider summaries from the Ministry of Housing and Works, the Ministry of Interior & Narcotics Control, and the Railways Division.
The Committee approved revised features of the “Mera Ghar Mera Aashiana (MGMA)” mortgage financing scheme, which officials said has generated significant public interest since its launch, receiving over 10,594 loan applications with disbursements already in progress.
Under the updated framework, the loan ceiling has been enhanced to Rs10 million, eligibility criteria for housing size have been expanded, and a uniform 5% end-user pricing has been introduced. The scheme will continue to be implemented through the State Bank of Pakistan mechanism, with housing finance targets structured over a four-year period.
The ECC also approved adjustment of previously disbursed loans to the revised 5% rate to ensure uniformity among beneficiaries. It emphasized that subsidy payments would be aligned with actual disbursements and managed within annual fiscal allocations.
According to officials, the revised structure aims to broaden access to affordable housing finance, encourage construction-sector growth, and promote home ownership under a mark-up subsidy and risk-sharing model.
In a separate decision, the ECC approved a Technical Supplementary Grant (TSG) of Rs7.289 million for the ICT component of the “National Program for Enhancing Command Areas in Barani Areas of Pakistan,” designed to improve agricultural productivity in rain-fed areas.
The Committee further granted Rs6.61 billion as a TSG to the Railways Division for the Thar Coal Rail Connectivity Project, providing budgetary cover for infrastructure intended to facilitate transportation of indigenous coal to power plants and industrial users, thereby supporting energy security objectives.
The meeting was attended by Federal Minister for Investment Qaiser Ahmed Sheikh, who joined virtually, along with senior officials from relevant ministries and divisions.
