SBP said that unique account ownership in the country has increased to 66 million with 60% active accounts by December 2019. The target of 50 percent of accounts has been accomplished well before the deadline of 2020.
The central bank pointed out that in Pakistan, bank financing for mortgages and housing construction is less than one percent of GDP which is one of the lowest in the region.
SBP said that banks have remained reluctant over the years to extend mortgage financing for various reasons.
According to the budget document, an amount of Rs 63,356.571 million has been allocated for 29 ongoing development projects and Rs 3,310 million for eight new development schemes of the Finance Division.