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Banks to face fines on falling short of housing finance targets July 7, 2021 KARACHI: Banks will face penalty if they fail to meet the mandatory targets of disbursements under the Government’s Mark-up Subsidy Scheme (G-MSS) for housing finance, the central bank said in a circular issued on Tuesday. Banks are expected to make all-out efforts to harness the full potential of the scheme. In April 2021, SBP assigned monthly mandatory targets of number of housing units and amount of disbursements (G-MSS targets) to banks in proportion to share in total banking assets. “In view of foregoing, it has been decided that penalty will be imposed on banks falling short of their G-MSS targets wef (with effective from) July 31, 2021 on both targets of number of housing units and amount of disbursements,” the circular said.

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