The State Bank of Pakistan revealed on Tuesday that housing and construction finance had increased by a historic 36 percent, a new high.
The SBP and the Pakistan Banks’ Association (PBA) jointly announced their efforts to increase home financing growth by raising awareness of the government’s, SBP’s, and other banks’ incentives.
Housing and construction finance has made significant progress, according to the statement, and there is momentum in the sector.
“By the end of June 2020, the banks’ housing and construction finance portfolio had grown to Rs202 billion, up from Rs148 billion at the end of June 2020. In comparison to a stable position in the same period last year, this implies an increase of Rs54 billion, or 36 percent, in the first three quarters of FY21,” the statement stated.
“Such rapid expansion in housing and construction finance has never been seen before in the country’s history,” said the statement.
