Banks approve Rs39bln under subsidised housing finance
July 16, 2021
ISLAMABAD: Banks have approved Rs39 billion under the government’s markup subsidy scheme for housing finance as of June 30 and the amount of loans applied for more than doubled in the last quarter of FY21 to Rs111 billion, the central bank’s governor said.
State Bank of Pakistan (SBP) Governor Reza Baqir told a meeting during FY21, housing and construction finance outstanding increased by Rs111 billion or 75 percent over FY20, reaching Rs259 billion by end June, 2021). An increase of this quantum in housing and construction finance in one year is unprecedented in Pakistan’s history. As a result, 97 percent of the overall target set by SBP for June 30, 2021 was met.