Recently, Mera Pakistan Mera Ghar (MPMG) scheme which was initiated by former PM, Imran Khan has been slung by the federal government of Pakistan, confirmed by Finance Ministry.
Low cost housing scheme, the MPMG has been temporarily suspended to modify it as per the changed market conditions and for better approach towards a targeted audience, as per ministry of finance.
In this regard, a statement stated that SBP ( State Bank of Pakistan ) and Finance Division were currently working on modifying the scheme and it would be deployed within a week.
However, it is assured that the investment of general public which is already made against the scheme remained secured.
The MPMG loans were provided at subsidized rates, it was launched by previous government to provide low cost houses for low income people.
It was launched in 2020, since then applications worth Rs473.7 billion have been submitted under the MPMG scheme.
MPMG scheme provides housing loans up to Rs.10 million with mark up ranging between 3% and 9% for the first 10yrs before switching to market rates after 10yrs.
