PM: SBP receives 8,000 applications under scheme for low-cost housing loan

F.P. Report
ISLAMABAD: On Thursday, National Coordination Committee on Housing, Construction and Development, told the prime minister that 1,820 applications had been approved with an outlay of Rs 5 billion and Prime Minister also instructed the SBP governor, and Naya Pakistan Housing and Development Authority chairman to incessantly follow the process of access to easy loans by low-income groups and remove all difficulties on priority basis.
State Bank of Pakistan Governor Reza Baqir informed Prime Minister that that within few weeks of its launch, the banks had received over 8,000 applications under the scheme of subsidy on mark-up of low-cost housing loan.
State Bank Governor mentioned that the pending applications were being processed expeditiously.
Other than this the meeting also reviewed progress on the construction activities in progress across the country as well as the provision of loans by the banks to builders, developers and especially the low-income groups.
During the meeting, Senior Minister of Punjab conveyed the sentiments of builders and developers over the proactive role being played by the banks in extending loan facility for the development and construction activities.
Furthermore Prime Minister was informed that the meeting was informed that for the first time in the country’s history, a standard application form was being used by all banks for extending credit facility to the low-income groups.
It had been made possible by the efforts of State Bank and cooperation extended by the commercial banks.
Regarding the MoU bet-ween two banks, Secretary Housing informed the prime minister that a memorandum of understanding had been signed with two banks through which loans with no ceiling limit would be provided for construction and purchase of new houses to the segments, which were not covered under the government’s mark-up scheme.
Upon hearing the updates regarding the housing scheme, Prime Minister expressed satisfaction over the cooperation being extended by commercial banks for promoting construction activities.
Prime Minister Imran Khan also instructed the SBP governor, and Naya Pakistan Housing and Development Authority chairman to incessantly follow the process of access to easy loans by low-income groups and remove all difficulties on priority basis.
Moreover, on Thursday Prime Minister also chaired a meeting to review progress on the Ravi Urban Development project and Central Business District in Lahore.
On this matter, Prime Minister was informed that five investors had submitted requests for proposal during the recently held investors’ conference. Two more investors had also shown their interest towards the project, he was told. Imran Khan was briefed about the progress into priority areas of the project, observed that the Ravi Urban Development Project would address issues of the provincial capital, besides promoting massive economic activities in the area.