Karachi: The State Bank of Pakistan (SBP) on Wednesday (September 09) announced that bank home loan for the Mera Pakistan Mera Ghar (MPMG) has risen significantly in recent months, news sources reported.
As of now, banks have approved PKR 59 billion in funding against an accumulated PKR 154 billion worth of financing applications. Banks released PKR 3.8 billion in August alone, a 49% increase when compared with the last month. This brought the total amount released since the initiative’s inception to PKR 11.5 billion. The central bank said the improvement in the total disbursement increase is due to the positive policies implemented by the central bank. The apex bank also issued a list of banks that approved the most loans to clients, with Meezan Bank topping the list with PKR 9.53 billion, followed by Standard Chartered Bank (PKR 9.49 billion) and Habib Bank Limited (PKR 5.08 billion).
However, Bank Alfalah led the list of banks with PKR 1.31 billion in funds distributed, followed by Meezan Bank with PKR 1.22 billion and National Bank of Pakistan with a total amount of money released of PKR 1.15 billion. Overall, banks accepted 39 % of MPMG home loan applications, while 19 % of approved applications received the money. Commercial banks have begun accepting applications from around the country through 8,000 authorised branches, under the central bank’s revised guidelines.
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.
