Low-income individuals’ dreams of buying a home would be realized by the Punjab government working with the Akhuwat foundation as the government planned to resume the loan program in this regard. 

In this context, Dr. Amjad Saqib, the founder of Akhuwat, and Ch. Parvez Elahi, the chief minister of Punjab, met to go through the details of how to achieve this goal. At the time, the CM also recognized the societal contributions made by non-governmental organizations (NGOs). 

The chief minister praised the lending program of the Akhuwat foundation for assisting the underprivileged in becoming self-sufficient. 

He said that the Akhuwat microfinance company would provide funds to less fortunate households for residential construction. 

He went on to say that the construction of homes in flood-affected areas would receive priority when loans were given, emphasizing the need of giving flood victims a roof. 

According to Dr. Amjad Saqib, the 2.5 million persons who received loans from Akhuwat have entirely repaid them. He asserted that 36,000 residences had been built with assistance for low-income families. 

Provincial Minister Mian Mehmood-ur-Rashid, Principal Secretary to the CM Muhammad Khan Bhatti, Secretary Housing Department, and others were present at the conference. 

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In 2018, it initiated the ‘Khushhali Home Plus’ loans facility, providing Rs1 million for low-income people, who need reasonable housing, and finance for the renovation and enhancement of existing houses. This service has already given loans worth Rs8 billion rupees, to over 15,900 low-income individuals, so far, to expedite socio-economic growth across Pakistan.

The Government’s Markup-Subsidy Scheme started in July 2021, has also improved KMBL’s high-ticket house-loan scheme to enlarge and develop the bank’s portfolio. As per the news, the Khushhali Apna Makaan (KAM) under the Government’s Subsidized Scheme has sanctioned a total amount of more than Rs3 billion.

Moreover, it has helped 1,400 rural-area people, by distributing a cumulative amount of Rs1.8 billion, whereas the approved amount for this segment is Rs2.2 billion. Out of these, over 294 were female clients, who have been given cumulative loans of 409 million rupees, whereas the total approved amount for the female part to date is Rs510 million.

The overall Housing Portfolio of KMBL includes 17,800 Low-Income individuals, who had been helped by distributing Rs10.9 billion, whereas the total approved amount for this segment is over Rs11 billion.

Over 13,000 rural area consumers have been aided up to now, by providing Rs8 billion. Almost 2,515 female clients have been serviced in the rural area by distributing loans worth Rs1.6 billion.

Meanwhile, Ghalib Nishtar- KMBL President and CEO stated the overwhelming victory of the ‘Apna Makaan’ House-Loan facility reveals the customer-oriented approach and the resourceful performance of Khushhali Microfinance Bank.

Increasing the quality of accommodation to upgrade the living standards for the deprived masses is one of our basic strategic objectives, the CEO remarked. This attempt is also in sync with the bank’s inspiring Corporate Social Responsibility (CSR) program, intended at increasing: Financial-inclusion, empowerment, public health, poverty alleviation, education, and environmental protection, he added.

It is worth mentioning that, KMBL is a winner of Pakistan’s ‘Best Microfinance Bank Award’, having a vision for sustainable progress, through professional excellence.

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