Karachi: The Pakistan Mortgage Refinance Company (PMRC) recently provided PKR 200 million to the Thardeep Microfinance Foundation for housing development in Thar — with this move being considered a landmark achievement for home financing in the country, according to news sources.
Reportedly, the PMRC sanctioned this loan after its officials payed a visit to the project site. According to the details available, these loans are expected to help housing development in Thar (in terms of the process of incremental housing, to construct roofs, additional rooms, kitchen, and water storage facilities, among other things). To this effect, the PMRC agreed to provide concessional financing through its low-income line to the Thardeep Microfinance Foundation.
Now, the PMRC is busy leveraging
its AAA rating and strong credibility to raise additional funding for the
project by issuing bonds from the market.
Additionally, it is expected that
the mortgage firm will be teaming up with the Naya Pakistan Housing Authority
to provide necessary infrastructure and low-cost housing across the country.
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.
