Govt restores MPMG housing scheme

ISLAMABAD: The federal government on Monday gave the go-ahead to resume disbursements to already approved cases under Mera Pakistan Mera Ghar (MPMG) housing finance scheme.

The announcement was made by the finance division in a tweet.

Announcing the decision, the finance ministry said that banks have also been asked to reduce their spread over KIBOR.

Finance Division has today conveyed its permission to resume disbursements to already approved cases under Mera Pakistan Mera Ghar Scheme( MPMG). Banks have also been asked to reduce their spread over KIBOR.#SBP #miftahismail

— Ministry of Finance (@FinMinistryPak) July 25, 2022

Finance Minister Friday announced the resumption of the Mera Pakistan Mera Ghar (MPMG) housing loan scheme for all those whose applications were approved.

Miftah Ismail said in a Twitter thread that he had a meeting at the State Bank of Pakistan (SBP) and the government will continue with the MPMG housing loan scheme for all those whose loan applications have been approved and who have paid advances (bayana).

“We will also ask the banks to reduce the interest rate charged. We are still in the process of reshaping the scheme to make it cheaper and more widespread. This revised scheme will be rolled out soon,” he added.

Earlier, the Finance Ministry had confirmed that the federal government suspended the popular ‘Mera Pakistan Mera Ghar’ (MPMG) Scheme, launched by former Prime Minister Imran Khan.