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.
Housing finance jumps 75% in FY21
SBP governor informs prime minister on unprecedented growth in housing finance
During FY21, the outstanding housing and construction finance increased by Rs111b or 75% over FY20, reaching Rs259b by end June, 2021. PHOTO: FILE
KARACHI:
Banks’ financing for housing and construction sector jumped 75% in the past one-year to a total of Rs259 billion in the fiscal year ended June 30, earning Prime Minister Imran Khan’s praise for the unprecedented growth in advances.
The advances include subsidised loans worth Rs39 billion under the government project Mera Pakistan Mera Ghar (MPMG) for people belonging to low and middle income groups, State Bank of Pakistan (SBP) Governor Reza Baqir told a meeting chaired by PM Khan.
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Daily Times
July 10, 2021
State Bank of Pakistan (SBP) Governor Reza Baqir has said that talks with the International Monetary Fund (IMF) on the sixth review of the $6 billion loan programme are going on smoothly. Speaking to the Pakistani media in Washington, the central bank governor said that Pakistan and the IMF share the same goals, which include bringing non-taxpayers to the tax net. “We too want to expand our tax net and improve the tax-to-GDP ratio,” the SBP governor said, adding that Pakistan and the IMF also share the same goals in other sectors too, like energy and circular debt. Dwelling on the Financial Action Task Force’s (FATF) action plan, he said that Pakistan has been taking measures to come out of the Paris-based money laundering watchdog’s grey list. About the SBP Amendment Bill 2021, Reza Baqir said it was not the first time that the bill was introduced as it was previously done five times. The bill was a first step towards the central bank’s autonomy
First Roshan car handed over to overseas Pakistani family
June 29, 2021
KARACHI: HabibMetro and Indus Motor Company (IMC) handed over the first Roshan Apni Car (RAC) to the family members of an overseas Pakistani on Friday.
State Bank of Pakistan (SBP) Governor Reza Baqir, who was the chief guest on the occasion, said he was delighted to see that the RAC initiative was helping overseas Pakistanis to fulfil the needs of their families in Pakistan and hoped it would create additional demand for car manufacturers and allied industries.
HabibMetro President and CEO Mohsin Ali Nathani said he was pleased to hand over the first car under the Roshan Digital Account’s RAC scheme. He went on to add that HabibMetro is committed to furthering the vision of the Prime Minister of Pakistan and the State Bank of Pakistan by offering an unparalleled and convenient banking experience to overseas Pakistanis.