Pakistan’s central bank unveils website on housing and construction finance
State Bank of Pakistan (SBP) has launched a dedicated website on housing and
construction finance to facilitate applicants.
The website will promote housing and construction finance and Mera Pakistan Mera Ghar (MPMG) – government’s flagship markup subsidy scheme for affordable and low-cost housing finance.
The page provides information on various measures taken by SBP to promote housing and construction finance such as issuance of separate Prudential Regulations for housing finance, the establishment of a high-level Steering Committee, allocation of mandatory targets for housing and construction finance, incentives and penalties and market facilitation.
A dedicated webpage for MPMG has also been launched to facilitate the potential applicants.
The MPMG page covers information about the scheme comprehensively including eligibility criteria, the tenor of the loan, maximum amount of loan, markup rates to be charged, maximum list of documents required and subsidy being provided by the Government.
The potential applicants can also access websites of participating banks directly wherein loan application forms under various categories are available. An installment repayment schedule of the loans and an installment calculator are also available on this webpage.
The webpage also shares monthly data of housing and construction finance extended by the banks.
Progress made under MPMG in terms of the latest statistics including data of amount applied, approved and disbursed under MPMG on monthly basis is also available on MPMG webpage.
Visitors will also be able to view the testimonials of the actual borrowers who have availed subsidized housing finance under MPMG by visiting the website. SBP expects that this dedicated webpage “will facilitate the visitors by providing them actionable information, guidance, and support they require for easy access to financing under MPMG.”