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Articles for tag: business, crore, housing, Latest, limit, limits, loan, maximum, recourse, scheme

January 4, 2026

News Desk

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

December 11, 2025

News Desk

UAE fines up to Dh5m for violating UAE residency rules

The most serious violations include providing housing, employment to foreigners living illegally in the country People walk on a bridge in the Emirate of Dubai. Photo: Archive UAE fined up to Dh5 million for violating UAE residency rules, including housing and employing immigrants, Gulf News was mentioned. The federal law no. 29 of 2021 on the entry and residence of foreigners imposes severe penalties for the crime, setting fines starting at Dh100,000 and reaching up to Dh5 million in cases involving multiple offenders or organized networks, in addition to a minimum of two months in prison. The legal liability extends

July 26, 2025

News Desk

The ECC Okass RS72B Housing Buspidy

Listen to the article Islamabad: On Friday, the government has approved a 72 billion -billion RS subsidy system to help low and medium income teams build small houses and apartments. Beneficiaries can benefit from residential loans of up to RS3.5 million at fixed interest rates ranging from 5% to 8%. The Council of Economic Coordination Committee (ECC) has approved the subsidy system and the distribution of risks. The homeowners will receive loans cheaper more than those offered on the market for the first time. The government will bring RS62 billions to interest expenses and 10 billion Rs to share the

June 29, 2025

News Desk

Sri Lanka crushes Bangladesh in the second series of testing in housing order

Colombo: Sri Lanka finished an Innings and 78 win over Bangladesh before lunch on the fourth day of the second test at Colombo on Saturday, completing the series of two 1-0 games. Repeating the day at a precarious 115 for six, visitors were still running with 97 runs and needed a small miracle to avoid a defeat of the entries. But the hopes of a rear view were almost immediately. The left arm of Prabath Jayasuriya, under the pump after a wickett excursion in the first entries, hit gold with the fifth ball of the morning, as Litton Das fell

May 2, 2025

News Desk

Trump suggests cut budget $ 163B, training and housing

Listen to the article US President Donald Trump’s administration on Friday proposed a reduction of $ 163 billion in the federal budget, which would strongly reduce spending in areas, including education and housing next year, while increasing the costs of defense and security. The administration said the proposed budget would increase the costs of paternal security by almost 65% from 2025 that has established levels. Expenditure that is not a defense-a slice of budget that excludes huge social security and Medicare programs, as well as the increasing cost of interest payments to the nation’s debt-will reduce by 23% to the

August 27, 2024

News Desk

Harris focuses on affordable housing

WASHINGTON: Democratic presidential candidate Kamala Harris is promising to build more housing as the centerpiece of an effort to tackle rising costs that have strained US households and put home ownership out of reach for many Americans. While Harris deliberately shied away from some policy specifics in her presidential run a month ago, she has laid out detailed plans to spur new construction and lower costs for renters and homebuyers, mostly through tax incentives. “We’re going to end homelessness in America,” he said as he accepted the Democratic presidential nomination last week. Republican presidential candidate Donald Trump’s campaign also promised

August 16, 2024

News Desk

Kamala Harris unveils tax cuts, affordable housing in first major economic speech

RALEIGH: Kamala Harris outlined proposals to cut taxes for most Americans, ban grocery “price gouging” and boost affordable housing on Friday in her first major economy-focused speech as the Democratic presidential nominee. The US vice president traveled to Raleigh, North Carolina to discuss an agenda for her first 100 days in office if she wins the presidency, pledging to introduce a new child tax credit of up to $6,000 for families with infants, a tax cut for families with children and lower prescription drug costs. Harris told state supporters that the US economy was the strongest in the world, but

March 24, 2024

News Desk

Qatar Fund looks to Pakistan’s strength in housing

Islamabad: Qatar Fund for Development (QFFD) CEO Khalifa bin Jassem Al-Kuwari on Saturday expressed interest in increasing the fund’s footprint in Pakistan’s power generation and housing sectors. Both countries will further strengthen bilateral cooperation by initiating discussions at the technical level, according to a press statement issued by the Directorate of Economic Affairs. A QFFD delegation, led by Al-Kuwari is on a two-day visit to Pakistan from March 23 to 24, 2024, the statement added. The delegation, together with the Ambassador of the State of Qatar to Pakistan Ali Mubarak Ali Essa Al-Khater called on the Minister of Economic Affairs,

March 18, 2024

News Desk

The state-owned housing finance giant is cutting funding

KARACHI: The House Building Finance Corporation (HBFC) has reportedly stopped providing subsidized housing and construction loans to the general public. According to the state housing finance giant’s financial performance report to December 31, 2023, new funding has been cut for buying, building and renovating homes. Despite being highly paid, the top management of the company seems unable to manage the organization effectively. Moreover, financial irregularities and mismanagement have become major obstacles to the privatization of HBFC. From issuing loans to awarding IT contracts, financial irregularities have become the norm at HBFC, while illegal appointments to top management positions have also

January 22, 2024

News Desk

Canada implements major reduction in foreign student visas amid housing crisis

International students play a critical role in improving Canada’s social, cultural and economic landscape People walk on the grounds of the University of Toronto in Toronto, Ontario, Canada, September 9, 2020. Picture taken on September 9, 2020. —Reuters Canada has announced a substantial reduction in the issuance of international student permits, aimed at addressing the housing crisis and resource distribution challenges. According to the Canadian government press release, with the number of international students reaching approximately 360,000, the government seeks to stabilize overall growth while maintaining the integrity of the education system and basic services. International students play a critical

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