Housing, construction finance promotion: SBP launches dedicated webpage

KARACHI: State Bank of Pakistan (SBP) has launched a dedicated landing webpage on Friday for promotion of housing and construction finance. The page contains extensive information on housing and construction finance and govt's flagship markup subsidy scheme 'Mera Pakistan Mera Ghar' (MPMG), for affordable and low cost housing finance.

The webpage provides information on various measures taken by SBP to promote housing and construction finance such as issuance of separate prudential regulations for housing finance, establishment of a high level Steering Committee, allocation of mandatory targets for housing and construction finance, incentives and penalties and market facilitation.

Moreover, a dedicated webpage for MPMG is also available to facilitate the potential applicants who intend to avail housing finance under MPMG. The MPMG page covers information about the scheme comprehensively including eligibility criteria, 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.

Through this page, 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. It is expected 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.

Copyright Business Recorder, 2021