The State Bank of Pakistan (SBP) has barred employees of banks and other financial institutions from benefiting from the Prime Minister’s Apna Ghar housing finance scheme.
The restriction applies to employees working for commercial banks, development finance institutions and microfinance banks, preventing them from applying for financing under the government-backed housing programme.
The scheme is also known as the Wazir-e-Azam Apna Ghar Program and is intended to facilitate access to housing finance for eligible applicants.
Under the latest instructions, employees of participating financial institutions will not be permitted to take advantage of the scheme’s financing facilities.
The decision covers staff members working across several categories of financial institutions regulated under Pakistan’s banking and financial system.
Commercial bank employees are among those affected by the restriction. The same exclusion applies to employees of development finance institutions and microfinance banks.
The move establishes a specific eligibility limitation for people who work within the financial institutions involved in providing banking and housing finance services.
The Prime Minister’s Apna Ghar programme is part of broader efforts to expand access to housing finance and support individuals seeking to purchase, construct or otherwise finance residential property, subject to the programme’s applicable eligibility requirements.
By excluding employees of banks and other participating financial institutions, the SBP has created a separate rule governing access for workers within the financial sector.
The restriction is particularly relevant because banks and financial institutions play a central role in processing and providing housing finance. Employees of these institutions therefore fall under a specific eligibility condition for the programme.
Applicants seeking housing finance under the Apna Ghar scheme will need to meet the programme’s eligibility requirements, including any restrictions issued by the central bank.
The latest SBP direction also provides financial institutions with clearer guidance regarding which categories of their employees are not eligible for the subsidized housing finance facility.
For individuals outside the excluded categories, eligibility will continue to depend on the applicable rules and conditions of the Prime Minister’s Apna Ghar housing finance programme.
The development highlights the role of the State Bank of Pakistan in establishing and supervising rules governing housing finance schemes implemented through the country’s banking sector.
The restriction on bank employees is now an important eligibility consideration for anyone working in a commercial bank, development finance institution or microfinance bank who may otherwise have considered applying for the programme.
