Pakistan housing and construction financing shot up historic 36%

Islamabad (HRNW) Bank housing and construction finance portfolios have increased 36% in three quarters of the fiscal year 2021 since the launch of the government’s Mera Pakistan Mera Ghar Housing Finance Scheme.

Housing and construction finance was worth Rs148 billion by the end of June 2020. It rose to Rs202 billion by March 2021.

“Such growth in such a period has never been witnessed in Pakistan’s history previously,” the State Bank said.

Financing for the housing and construction sector in Pakistan has almost always been negligible in the credit portfolios of banks when compared with those of other countries.

The State Bank took measures from July 2020 to support financing for housing and construction by giving banksincentives and targets.

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