Bank funding under the government’s affordable housing project Mera Pakistan Mera Ghar is gaining traction, according to the State Bank of Pakistan (SBP).
The SBP shared information on the scheme on Twitter, saying that banks have approved loans worth Rs59 billion and have already disbursed Rs11.5 billion.
“During August 21, disbursements climbed by Rs3.8 billion, or 49 percent,” the central bank stated, adding that the pace of disbursement under Mera Pakistan Mera Ghar (MPMG) was originally slow due to a variety of issues, including the availability of housing units, but has since picked up.
Banks are receiving MPMG applications from over 8,000 designated branches across the country, according to SBP regulations.
