Faisalabad: The State Bank of Pakistan organised the Mera Pakistan Mera Ghar Mela in collaboration with banks and Naya Pakistan Housing and Development Authority (NAPHDA). This Mela (event) was held to increase awareness about a housing financing program jointly offered by the SBP and the government.
In Pakistan, there is an affordable housing scheme called Mera Pakistan Mera Ghar, which’s intended for households with low or moderate incomes and for salaried individuals as well. The State Bank of Pakistan has organized a mela for the first time called Mera Pakistan Mera Ghar (MPMG) in Faisalabad and received a massive response.
The event attracted more than 30,000 visitors seeking information about Mera Pakistan Mera Ghar and applying for loans through the one-window process of banks. In the course of the event, banks received applications totalling Rs18 billion from applicants.
Builders, developers and real estate agents showcased the various projects using the MPMG financing facility at the Mera Pakistan Mera Ghar event. Banks revealed the MPMG financing facility to potential buyers while builders, developers and real estate agents highlighted housing units and apartments available using the facility.
The highest amount of applications was also logged in by Meezan Bank. First conditional approval letters were issued by BoP and NBP the quickest. The majority of conditional approval letters were issued by ABL. Visitors recognized Bank Al-Habib as providing the best level of service.
Since the Mera Pakistan Mera Ghar scheme was introduced, applications for affordable housing financing, which were nonexistent 15 months ago, have increased to Rs357 billion. Of this, Rs157 billion worth of applications have been approved and Rs56 billion approved and disbursed so far.
