Lahore: A consortium of 20 top banks is set to be formed for the construction of 5 million houses under the Naya Pakistan Housing Programme (NPHP), a news source reported. These banks have agreed to finance the construction of houses.
A meeting is also expected to take place next in which the matter of providing a tolerable mark-up rate to the general public will be discussed between the high-level representatives of government, banks, and the head of State Bank of Pakistan.
One of the possibilities being explored is that the government property on which the house has been constructed shall remain mortgaged until such time as the buyer pays all the instalments. This is being lauded as a beneficial step.
