Categories: Technology

PM directed SBP governor to make housing finance easily accessible

ISLAMABAD: Prime Minister Imran Khan on Thursday directed governor State Bank of Pakistan (SBP) Dr Reza Baqir to make certain that Rs 380 billion allocated by the commercial banks for the mortgage of houses is easily accessible to the applicants.

invest with imarat

Islamabad’s emerging city centre

Learn More

According to the details, the Government is providing an amount of Rs 300,000 subsidy as well and would ensure that the interest rate for the mortgage is fixed at 5 per cent for 20 years. The government, for the first time, is providing the facility for constructing houses for the poor.  

As per the officials, for the first time, the banks were advised to allocate Rs 380 billion for the construction sector and distribution of funds to the applicants which are being observed by the SBP.

Zulfiqar Bukhari, the special assistant to the prime minister overseas, said that in the next phase, 1504 more units would be built.

This project is considered to be the foundation of providing low cost and affordable houses to the weak segments of society.

 

For news and blogs, visit Graana.com. 

Maham Tahir

Recent Posts

Garha Mor: A Notable Landmark in Vehari City

Garha Mor, a notable landmark in Vehari, Punjab, Pakistan, is significant in its location, accessibility,…

1 day ago

Aslam Market Wah Cantt: Pleasure of Shopping & Dinning

Located in the center of Wah Cantt, Aslam Market is a vibrant commercial hub that…

2 days ago

Abid Market Lahore: An Iconic Shopping Landmark

Located in the bustling heart of Lahore, Abid Market is a landmark shopping area well…

3 days ago

CDA Chairman Urges Rapid Completion of Major Islamabad Interchanges

ISLAMABAD, Nov 16 (APP): The Chairman of the Capital Development Authority (CDA), Muhammad Ali Randhawa,…

3 days ago

IMARAT Announces Launch of Pakistan’s Largest Sharia-Compliant REIT – A New Era of Real Estate Investment

Islamabad, Pakistan— IMARAT Group, a leading real estate developer and innovator in Pakistan, announces the…

3 days ago

Amma Tower: A Landmark in Urban Living & Commerce

Amma Tower, located in the bustling area of Saddar in Karachi, is a unique blend…

4 days ago