The common man can become the owner of a house by paying monthly installments
Banks are giving loans to people to build houses, house rent increases every year but the installment is fixed by the bank. Governor State Bank of Pakistan Raza Baqir addressed the function.
State Bank of Pakistan Raza Baqir says that a large population of Pakistan does not have a house, the common man can become the owner of the house by paying monthly installments.
Not houses, banks are giving loans to people to build houses. Raza Baqir said that house rent increases every year but the installment is fixed by the bank, the common man owns the house by paying monthly rent Can become
He said that the Prime Minister had directed all the institutions to play their due role. Earlier, Governor State Bank Raza Baqir had said that the banks had sanctioned Rs 109 billion for affordable housing.
Addressing the function of My Pakistan, My Home Housing Loan Scheme on December 24, 2021, he said that under markup subsidy, it has become easier for the poor to build their own house, banks will provide loans to poor people to build affordable houses The goal is for poor people to build their own homes.
He said that banks have sanctioned Rs.109 billion for affordable houses, if one buys a house of Rs.2 million then his monthly installment becomes only Rs.11,000.
He said that loans of Rs. 32 billion have been disbursed so far. Speaking on the occasion, Finance Advisor Shaukat Tareen said that in the past, loans for construction of houses were given at 18% interest rate. Loans are being given on interest.
Finance Advisor Shaukat Tareen said that the efforts of Chairman New Pakistan and Raza Baqir regarding affordable housing are worthwhile.
Chairman New Pakistan Housing Authority is working day and night without any compensation. Addressing the function, the Prime Minister said that now even the common man can take his house in installments.
I will also add, bankers have now started speaking Urdu, try to wear shalwar kameez too.