Bank lending gains momentum

Bank lending for the government’s markup subsidy scheme, commonly known as Mera Pakistan Mera Ghar, has gained momentum, said the State Bank of Pakistan. In a statement on Wednesday, the central bank said that applications with a cumulative worth of Rs154 billion had been received since the launch of the scheme by different banks. “They have approved housing finance of over Rs59 billion till August 31, 2021,” it said. “Similarly, the pace of disbursement under the Mera Pakistan Mera Ghar has also picked up.” The central bank pointed out that the disbursement was initially slow because of a number of factors, including the availability of housing units. By August 31, 2021, the disbursement under the scheme had reached Rs11.5 billion, showing an increase of around Rs3.8 billion or 49% in August 2021.

Published in The Express Tribune, September 9^th, 2021.

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