Banks in Pakistan have received Rs. 200 billion worth Mera Pakistan Mera Ghar (“MPMG”) housing loans applications, as of 18th October 2021. Banks have already approved the financing of Rs. 78 billion worth loans of which Rs. 18 billion have already been disbursed.
The State Bank of Pakistan reported that housing and construction loans from banks increased by 84% to touch Rs. 305 billion as of end September 2021 (last: Rs. 166 billion). In July 2020, the SBP had advised commercial banks to increase such lending to at least 5% of their private domestic sector advances by December 2021. As of end September 2021, banks achieved 94% of their assigned targets.
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