ECC approves raising housing loan limit to Rs10 million
ECC approves higher housing loans, rail connectivity funding, and agriculture support to boost development and benefit citizens nationwide.
Economic Coordination Committee – (Web Desk) – On Friday, the Economic Coordination Committee (ECC), led by Federal Finance Minister Muhammad Aurangzeb, approved several important financial and development measures.
Among the decisions, the ECC raised the loan limit for the government’s low-cost housing initiative, Mera Ghar Mera Ashiana, to Rs10 million. Beneficiaries of the program will now enjoy a reduced mark-up rate of five per cent.
The Finance Ministry confirmed that this low interest rate will also benefit existing borrowers, offering them much-needed relief. The scheme will continue to be implemented through the State Bank of Pakistan.
In another significant decision, the ECC approved Rs6.61 billion for the Thar Coal Rail Connectivity Project. The ministry stated that improved rail connectivity would facilitate the transportation of local coal and contribute to strengthening the country’s energy sector.
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The committee also approved funds for a project aimed at enhancing agricultural production in rain-fed areas, as part of broader efforts to support the agriculture sector and improve output in less irrigated regions.
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