Karachi: The State Bank of Pakistan (SBP) on Thursday (February 03) amended the Naya Pakistan Housing Programme (NPHP)’s financing regulations to cater for the needs of Tier-1 applicants, news sources reported. The new regulations have revised the financing mechanism under the government’s Naya Pakistan Low-Cost Housing Scheme (NPLHS) of Kamyab Pakistan Program.
As per the notification, the following changes have been made:
Tier-1 applicants are exempted from Proxy Mean Test (PMT) scores to get financing under Naya Pakistan Housing & Development Authority (NAPHDA). Now the applicant doesn’t need to be a beneficiary of the Ehsaas programme.
The Tier-1 housing schemes under NAPHDA for Low-cost housing will be extended and developed throughout the country instead of the selected regions/districts.
Financial institutions may continue to provide wholesale loans via Microfinance providers (MFPs) but will not provide direct lending to consumers under NPLCHS.
The SBP has recently asked all commercial banks to expedite loan distribution under the low-cost housing scheme in a similar move. In addition, it has directed commercial banks to boost loan amounts to 7% of overall lending by banks.
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