SBP to provide 90pc loan for low-cost housing project: Tariq Bajwa

ISLAMABAD: State Bank of Pakistan Governor Tariq Bajwa on Monday announced that the bank would provide 90 per cent loan for construction of low-cost houses under the ‘Naya Pakistan Housing Programme’.

Addressing a ceremony in connection with the release of financial policy on the low-cost housing scheme in Islamabad, Tariq Bajwa said that the SBP to finance the low-cost housing scheme.

A house costing up to Rs3 mn would be financed under the scheme, the SBP governor said and added that widows, orphans and terrorism affectees would be given priority in the scheme.

He said that the bank would provide Rs1250 billion for the revival of agriculture sector in the country.

Read More: PM’s low-cost housing project attracts Singapore

Earlier, Singapore had offered its expertise in urban planning to Pakistan in building 5 million low-cost houses’ project announced by Prime Minister Imran Khan in the next five years.

Singapore’s ambassador to Jordan, Shamsher Zaman on February 26, had placed the offer while addressing business leaders at the Federation House, saying that Pakistan had brought improvements in business atmosphere while Singapore can provide assistance to Islamabad for building five million low-cost houses promised by PM Khan.

It is noteworthy to mention here that the visiting envoy is also serving as vice chairman of South Asia Business Group, and chairman of Middle East Business Group who arrived in along with 22-member delegation including businesspersons and investors.