Pakistan, July 26 -- Finance Minister Muhammad Aurangzeb has approved a major new scheme to support the construction of affordable homes nationwide. The decision was made during a recent Economic Coordination Committee (ECC) meeting, which Aurangzeb chaired. This scheme aims to address the country's housing shortage and make homeownership possible for low- and middle-income families.

The government will provide financial support through the Markup Subsidy Risk Sharing Scheme. This will help reduce the cost of borrowing for homebuyers by sharing the interest subsidy between the government and financial institutions. The Ministry of Housing has been instructed to develop a comprehensive and accurate database of potential beneficiaries to e...