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Sunday, April 14, 2024

Govt to launch Roshan Apna Ghar scheme for expatriates: Farrukh

PM has announced that the govt plans to launch the Roshan Apna Ghar scheme for overseas Pakistanis as they have been facing difficulties in buying and selling properties,

Minister of State for Information and Broadcasting Farrukh Habib said on Friday that Prime Minister Imran Khan would launch today the Roshan Apna Ghar scheme for the overseas Pakistanis.

In a tweet, he said that overseas Pakistanis will be able to invest in this scheme and get easy financing through digital process.

The state minister said that State Bank of Pakistan has formulated this scheme in consultation with all stakeholders, including the Naya Pakistan Housing Authority.

Read more: PM Khan directs SBP and NBP to relax housing loan conditions

Overseas Pakistanis with Roshan Digital Account can invest in Roshan Apna Ghar scheme, Farrukh Habib said.

Those who buy a house under Roshan Apna Ghar Scheme, he said, will be able to sell their houses at any time.

He said that a list of pre-approved projects for Roshan Apna Ghar scheme has been prepared.

Overseas Pakistanis around the world had been facing many difficulties in purchasing houses and property and under Roshan Apna Ghar Scheme, these problems will easily be resolved, he remarked.

“Roshan Apna Ghar is the new lifestyle banking product in the same category,” said the SBP, adding that non-resident Pakistanis can now easily buy or obtain financing with the comfort of sitting in their houses abroad without the need to visit a bank branch.

“They can buy or finance a house from bank’s pre-approved projects or any other property,” said the SBP.

Read more: What are the issues with Pakistan’s housing market! Expert Views

“The tax regime is simple and final. In case of sale of property, the principal amount invested can be remitted abroad without needing any permission,” it added.

The SBP says that profit rates are attractive. Financing is available in both conventional and Shariah-compliant version, it added.

APP with additional input by GVS News Desk