Over 8,000 applications received under the housing marking subsidy scheme: PM said

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ISLAMABAD, Feb 11 (APPLICATION): Prime Minister Imran Khan was informed on Thursday that within weeks of its launch, banks had received more than 8,000 applications under the low-income home loan markup subsidy scheme. cost.

The Governor of the State Bank of Pakistan, Reza Baqir, in a meeting of the National Coordination Committee for Housing, Construction and Development, told the prime minister that 1,820 applications had been approved with a disbursement of 5,000 million rupees. Pending applications are being processed quickly, he added.

The meeting reviewed the progress of ongoing construction activities across the country, as well as lending by banks to builders, developers, and especially low-income groups.

The Chief Minister of Punjab conveyed the sentiments of builders and developers about the proactive role that banks are playing in expanding the credit line for development and construction activities.

The meeting was informed that for the first time in the country’s history, all banks were using a standard application form to extend the credit facility to low-income groups.

It was made possible by the efforts of the State Bank and the cooperation provided by commercial banks, it was said.

The Secretary of Housing informed the Prime Minister that a memorandum of understanding had been signed with two banks through which loans without a ceiling would be granted for the construction and purchase of new homes to the segments, which were not covered by the margin scheme. of the government. .

The prime minister expressed satisfaction with the cooperation provided by commercial banks to promote construction activities.

He ordered the SBP governor and the chairman of the Naya Pakistan Housing and Development Authority to continuously follow the process of accessing easy loans by low-income groups and eliminate all difficulties as a priority.

Earlier, the prime minister also chaired a meeting to review progress on the Ravi Urban Development and Central Business District project in Lahore.

He was informed that five investors had submitted requests for proposals during the recent investor conference. Two more investors had also shown interest in the project.

The prime minister, who was also informed about the progress in the priority areas of the project, observed that the Ravi Urban Development Project would address issues of the provincial capital, in addition to promoting massive economic activities in the area.

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