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LAHORE: The President and CEO of Bank of Punjab inaugurated a housing scheme – Garden Squares in Eminabad. BOP has taken lead in financing such projects of public value and this is first of its kind private sector collaboration for providing state-of-the art housing to low-income segment through financing.

Inaugurating the project, Zafar Masud, said that it is a revolutionary project through which The Bank of Punjab is making practical efforts to fulfill the Prime Minister’s dream. The Bank of Punjab will provide financial assistance in the form of loans on easy terms for home buyers. He also said “I have instructed my team to provide all kinds of facilities and guidance to all the applicants at their doorstep, who want to avail a loan from The Bank of Punjab”.

Zafar Masud further said that The Bank of Punjab has reduced the markup rate under a special package to facilitate the people in light of the directives of the Prime Minister. For a five-marla house, the mark-up rate for the first five years will be 5 percent, for the next five years it will be 7 percent and after 10 years it will be according to the market rate.—PR

Copyright Business Recorder, 2021

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