The maximum loan limit of Rs 3.5 crore limits recourse to the housing scheme
KARACHI: Commercial banks received a tepid response from the public to the government’s recently revamped housing finance plan, mainly due to the limited size of the finance on offer compared to prevailing property prices, particularly in major urban centres, market players said. In an effort to address Pakistan’s widening housing deficit, the government has allocated a subsidy of Rs 5 billion for the current financial year. Subsequently, the State Bank of Pakistan (SBP) developed a subsidized housing finance program that allows a maximum loan of Rs 3.5 million for the purchase of housing units and plots, as well as for
