The State Bank of Pakistan has set an objective for all commercial banks to meet in terms of providing loans to people over the construction of homes.
The banks have also been notified to face penalties if they failed to meet the target. The SBP has already instructed all banks on how to release loans for home construction.
“It has been decided that a penalty will be imposed on banks falling short of their Government’s Mark-up Subsidy Scheme (G-MSS) targets with effect from July 31, 2021, on both targets of the number of housing units and amount of disbursements,” said the central bank.
For more news and blogs, visit AH Group.com