SBP holds housing finance mela

KARACHI: State Bank of Pakistan (SBP) Governor Raza Baqir on Saturday said banks have approved Rs157 billion under Mera Pakistan Mera Ghar (MPMG) and disbursed Rs56 billion for affordable housing to low and middle income groups in the country.

He was speaking in Faisalabad at an event to increase awareness about the affordable housing financing scheme introduced jointly by the SBP and the government of Pakistan. The two-day event, from March 19-20, has been organised in collaboration with NAPHDA, banks and their allied builders and developers. The banks and builders/developers have placed stalls and kiosks for information dissemination among visitors.

Appreciating the event, Baqir said that MPMG scheme was envisioned to provide affordable housing solutions to low and middle income groups in the country. He acknowledged banks’ efforts in making MPMG a success story. “To date, banks have approved Rs157 billion under MPMG and disbursed Rs56 billion.”

Assuring full support of banks and SBP for promoting MPMG, Baqir urged the business community of Faisalabad, including members of chamber of commerce and business groups, to encourage their employees, who do not own a house, to avail financing under this scheme. He advised banks to arrange focused programmes at the premises of major employing firms in Faisalabad and other cities to offer MPMG financing facility to their employees.