Karachi: The State Bank of Pakistan (SBP) has initiated a policy for financing low-cost housing with support from prominent stakeholders, stated a news report. The official statement from the SBP highlighted that the housing sector is an engine of economic growth, having potential to generate employment, increase productivity, raise standards of living, and alleviating poverty for which policy formulation for low-cost housing is an important step.
The focus of this policy has been highlighted as addressing the issue of affordability for low-income borrowers. Details of this policy have been placed on the SBP’s official website, and after receiving public comments, will be formalised.
