LAHORE: House Building Finance Company (HBFC) has set loan disbursement target at Rs1.9 billion for 2013 and has planned to establish Customer Facilitation Centres (CFCs) in various cities. In a press release, HBFC says in the first phase 10 CFCs are being established in Karachi, Lahore and Islamabad, which will start functioning in the first week of March. In the second phase, the facility will be extended to other cities as well. CFCs, aimed at enhancing outreach, marketing products effectively, improving services and branch environment and increasing market share, would be in addition to 52 branch offices of HBFC across the country. According to the Business Development Plan approved by Managing Director Saeed Khan, the loan target will be increased to Rs2.5 billion for 2014. In Pakistan, the ratio of mortgage financing to GDP is less than 1% despite a shortage of more than seven million houses.
Published in The Express Tribune, March 2nd, 2013.
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