Karachi: The State Bank of Pakistan (SBP) on Tuesday has announced that housing and construction finance has registered a ‘historic’ growth of 36% growth during the fiscal year (FY 2020-21), according to news sources.
The said statement was released jointly by the central bank and Pakistan Banks’ Association (PBA), in which the institutions highlighted their efforts to encourage growth and create awareness about the best use of the incentives announced by the government, banks and SBP.
Reportedly, housing and construction finance has been climbing noticeably at a steady momentum. As per the data shared, the housing and construction finance portfolio has spiked to PKR 202 billion in March 2021 from PKR 148 billion recorded at the end of June 2020. There is a 36% increase in three-quarters of FY 21 when compared with the stagnant figures of the corresponding period last year. The statement further read that such growth in housing finance has never been witnessed previously.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
