Housing financeL Govt to provide markup subsidy
Real estate agents, jewellers and accountants will maintain record in the paper or electronic form or on microfilm. PHOTO: FILE
The State Bank of Pakistan (SBP) has announced the government of Pakistan’s markup subsidy for affordable housing finance. In a statement, the central bank said the government would provide a markup subsidy facility for the construction and purchase of new houses. This facility will allow all individuals, who will be constructing or buying a new house for the first time, to avail bank financing at subsidised and affordable markup rates. The facility will be provided with the administrative support of the SBP as executing partner with the government of Pakistan and Naya Pakistan Housing and Development Authority (NAPHDA). The government has allocated Rs33 billion for payment of markup subsidy for financing over a period of 10 years and has assured continuity of the facility.
Published in The Express Tribune, October 14th, 2020.
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