ISLAMABAD: State Bank of Pakistan (SBP) Governor Raza Baqir on Sunday said that conditions for obtaining loans under the Naya Pakistan Housing scheme have been relaxed further, ARY News reported.
Speaking in the housing telethon, Raza Baqir said that people can pay back their loan in easy installments under the scheme. Responding to a question about the monthly installments of Rs1 million loan, the SBP governor said that the citizens can pay back the amount in monthly installments worth Rs6,600.
Raza Baqir said that the State Bank has an important role in the low-cost housing scheme as it ensures that the banks provide loans to the people as directed by the government.
He said earlier in Pakistan
the contribution of commercial banks in the provision of loans for the housing sector was less than one per cent of the economy. Raza Baqir said that the State Bank will determine the issues due to which the banks were not providing loans to the people for the construction of houses and resolve those issues.Read More: Housing telethon: PM directs banks to simplify loan process
Meanwhile, In a bid to facilitate the low and middle-income groups, Prime Minister Imran Khan directed the banks to simplify the process for housing finance.
Virtually addressing the housing telethon, PM Imran Khan instructed the banks to facilitate those applying for low-cost housing loans under the Naya Pakistan Housing Program.
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