KARACHI: The State Bank of Pakistan (SBP) says it has launched a dedicated webpage for promoting Mera Pakistan, Mera Ghar (MPMG) — the government’s flagship markup subsidy scheme for affordable and low-cost house financing — as well as construction financing.
According to the SBP, the webpage contains extensive information on housing and construction finance and MPMG. The government, in coordination with the SBP, took several measures to boost housing and construction in the country but the data shows the sector still needs special attention to take solid shape reflecting high activities in the sector.
The webpage provides information on various measures taken by the SBP to promote housing and construction finance such as issuance of separate Prudential Regulations for housing finance, establishment of a high-level Steering Committee, allocation of mandatory targets for housing and construction finance, incentives and penalties and market facilitation.
Moreover, a dedicated webpage for MPMG is also available along with the new website to facilitate the potential applicants who intend to avail housing finance under the low-cost housing scheme.
The MPMG page covers information about the scheme comprehensively including eligibility criteria, tenor of the loan, maximum amount of loan, markup rates to be charged, maximum list of documents required and subsidy being provided by the government.
Through this page, potential applicants can also access websites of participating banks directly wherein loan application forms under various categories are available. An installment repayment schedule of the loans and an installment calculator are also available on this webpage.
The webpage also shares monthly data of housing and construction finance extended by the banks. Progress made under the MPMG in terms of the latest statistics including data of amount applied, approved and disbursed under the subsidy scheme on monthly basis is also available on the dedicated webpage.
Visitors will be able to view the testimonials of the actual borrowers who have availed subsidised housing finance under MPMG by visiting the website.
“It is expected that this dedicated webpage will facilitate the visitors by providing them actionable information, guidance, and support they require for easy access to financing under MPMG,” said the SBP.
Published in Dawn, October 9th, 2021
