House loan applications worth Rs144b received so far, SBP report

By: News Desk      Published: 11:37 PM, 8 Sep, 2021
House loan applications worth Rs144b received so far, SBP report

The State Bank of Pakistan (SBP) Wednesday said that house loans applications worth Rs144 billion have been received since the inception of the prime minister’s loan scheme for low-cost housing, reported 24News HD TV channel.  

The SBP report revealed that the banks had approved loans of Rs 59 billion for housing till August 2021. 

The pace of bank loans for affordable housing has increased. The loans of Rs11.5 billion have already been released under My Pakistan, My Home Government Markup Subsidy Scheme till August 31, 2021, said the report. The report further said that in July 2021, loans of Rs7.11 had been issued. In August 2021, loans for housing from banks increased by Rs 3.8 billion, an increase of 49%, the SBP said. So far, banks have approved 38% of home loan applications, said the report. The banks have issued these loans at various stages of construction or purchase of houses, the SBP further said.

On the direction of the SBP, My Pakistan My Home applications are being received through more than 8,000 branches across the country.

Naya Pakistan Housing Development Authority and Pakistan Banks Association are providing full support to the My Pakistan, My House scheme. 

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