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SBP launches webpage to promote housing finance


KARACHI:

The State Bank of Pakistan (SBP) on Friday launched a dedicated landing webpage on promoting housing and construction finance on its website.

The page contains information about housing and construction finance and the government’s flagship markup subsidy scheme “Mera Pakistan Mera Ghar” (MPMG) for affordable and low-cost housing finance.

The webpage provides information about various measures taken by the SBP to promote housing and construction finance such as issuance of separate Prudential Regulations for housing finance, establishment of a high-level steering committee, allocation of mandatory targets for housing and construction finance, incentives and penalties, and market facilitation, said a statement released by the central bank.

Moreover, a dedicated webpage for MPMG is also available to facilitate the potential applicants who intend to avail housing finance under the scheme.

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The page covers information about the scheme including the eligibility criteria, tenor of loan, maximum amount of loan, markup rates to be charged, maximum list of documents required and subsidy being provided by the government. Through this page, the applicants can also access websites of participating banks directly, wherein loan application forms under various categories are available.

An installment repayment schedule of loans and an installment calculator are also available on this webpage.

It also shares monthly data of housing and construction finance extended by banks. Progress made under MPMG including the data of amount applied, approved and disbursed on a monthly basis is also available on the webpage.

Published in The Express Tribune, October 9th, 2021.

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