Islamabad: The federal government on Tuesday (July 19) decided to relaunch the updated Mera Pakistan, Mera Ghar home financing scheme within a week, news sources reported. The government has restructured the scheme to better correspond to the market’s rate and cater to the citizens’ needs.
According to sources, the said update was shared by the federal finance division, which noted that the government is working to make the project more viable. According to the statement, the government had recently postponed distribution under the scheme to adjust to macroeconomic trends and rising interest rates. The ban was placed from July 1 to August 31 to restructure and reevaluate the scheme’s viability model. Last week, Finance Minister Miftah Ismail made a similar announcement. The minister stated that the government intended to continue the public benefits package.
However, the interest rate offered under the programme is not sustainable as the actual interest rate has risen to 15%, far more than the 3% interest rate offered by MPMG Finance.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
