PM Khan Lauds Banks on Surpassing Rs. 100b Housing Loans Financing

Islamabad: Prime Minister Imran Khan on Friday lauded the efforts of Private banks, Governor State Bank, and Chairman New Pakistan Housing Authority for providing easy and affordable loans to the low-income segment of society to build a house of their own. He was speaking on the eve of marking the approval of over Rs 100 billion Housing and Construction Loans under the Mera Pakistan Mera Ghar Scheme. The Prime Minister said that the scheme would not only materialize the dreams of the low-income and salaried class to build their own house but also play a vital role in boosting economic activities in the country.

The premier while praising the untiring efforts of the overseas Pakistanis said that they send their hard-earned to Pakistan and have an extreme desire of having their own home in Pakistan. He said, “When I was playing cricket, I kept in touch with Pakistanis abroad; their only wish was to earn enough money to have their own home. In the past, governments did not pay attention to this.,” Speaking on the occasion the premier said that Housing and Construction sector remained neglected over the past few decades and the people at the helm of affairs did not pay heed to Providing housing to the poor and the needy. He added, “This is a great moment for Pakistan because we are heading on the path which we should have opted way earlier,”

To Boost Housing Finance, recently the SBP has Increased Banks Exposure Limits to 25pc. In this regard, the PM cited the example of China where the country had made progress from the lower class to the upper class but here in Pakistan the lower class was never given any importance but now the government has given them access to the banks and to utilize the immense potential of the society. The incumbent government, he continued, through an improved system of is trying to uplift the poor and the loan is being provided to them on urgent grounds. He further directed the banks to put up more efforts to reach the layman by improving their system and through proper marketing.

The premier further added that a big change is going to take place in the coming days when the easy loan reaches the low-income groups for housing and construction. Speaking on the occasion, the Special Assistant to PM Shoukat Tarin While speaking on the occasion said that a subsidy of Rs 300,000 couples with a mark up as low as 3-4 percent is a huge incentive offered by the PM to the low-income segment of society. It is pertinent to mention here that the incumbent government before coming to the power had promised to construct 5 million houses for the low-income groups. The ongoing approvals of the loans from the private banks are in line with the vision of the Prime Minister to provide the poorest of the poor with a house of their own and ensure the economic uplift of the country through the sector of housing and construction.