SBP launches webpage for Mera Pakistan Mera Ghar – Journal

KARACHI: The State Bank of Pakistan (SBP) announced that it has launched a dedicated webpage to promote Mera Pakistan, Mera Ghar (MPMG) – the flagship government grant program for financing affordable and low-cost homes – as well as the financing of construction.

According to the SBP, the web page has detailed information on housing and construction finance and MPMG. The government, in coordination with the SBP, has taken several measures to boost housing and construction in the country, but data shows that the sector still needs special attention to take a solid shape reflecting the high activities in the country. sector.

The web page provides information on various measures taken by the SBP to promote housing and construction finance, such as issuing separate prudential regulations for housing finance, establishing a high-level steering committee, l ‘assignment of mandatory targets for financing housing and construction, incentives and penalties. and market facilitation.

In addition, a dedicated MPMG webpage is also available with the new website to facilitate potential applicants who intend to qualify for housing finance under the Low Cost Housing Program.

The MPMG page covers complete information about the program, including eligibility criteria, loan term, maximum loan amount, mark-up rates to be charged, maximum list of documents required and the grant provided by the government. .

Through this page, potential applicants can also directly access the websites of participating banks, where loan application forms of different categories are available. A loan repayment schedule and installment calculator are also available on this web page.

The webpage also shares monthly housing and construction finance data provided by banks. The progress made under the MPMG in terms of the most recent statistics, including data on the amounts applied, approved and disbursed under the grant scheme on a monthly basis, is also available on the dedicated webpage.

Visitors will be able to see testimonials from actual borrowers who have availed of subsidized housing finance under MPMG by visiting the website.

“This dedicated web page is expected to facilitate visitors by providing them with the actionable information, advice and support they need for easy access to funding under MPMG,” said SBP.

Posted in Dawn, October 9, 2021

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