KARACHI: State Bank of Pakistan (SBP) governor Dr Reza Baqir said on Saturday that the Mera Pakistan Mera Ghar (MPMG) markup subsidy scheme is designed to provide affordable housing solutions to low- and middle-income groups.

Addressing the participants of MPMG Mela held in Faisalabad, Dr Baqir said that the event was a unique opportunity for all key stakeholders to provide a one-stop solution for creating awareness about the affordable housing financing scheme under one roof.

He acknowledged banks’ efforts in making MPMG a success story as banks so far have approved Rs157 billion under MPMG and disbursed Rs56bn. Mortgage financing has largely been ignored by banks for one or the other reason in the past, he added.

Dr Baqir urged the business community of Faisalabad, including members of the chamber of commerce and business groups, to encourage their employees, who do not own a house, to avail financing under this scheme.

He advised the 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.

Published in Dawn, March 20th, 2022