Karachi: The State Bank of Pakistan (SBP) has formulated a complete mechanism for markup subsidy scheme for housing finance and forwarded it to banks and development finance institutions (DFIs) who are acting as Executing Agencies (EAs) for the initiative, according to a news source.
In a detailed circular to all the EAs, the banks and DFIs were advised to submit their claims to the Development Finance Support Department (DFSD), SBP BSC, Karachi – within 15 working days from the end of each quarter.
It was also announced that EAs will submit their claim within 15 working days for the quarter ending December 2020 and March 2021 – from the issuance date of this circular. The central bank stated that the EAs will review financing applications of customers as per parameters of markup subsidy scheme for housing finance approved by the federal cabinet and circulated by the SBP to all banks/DFIs on March 25 – and are revised from time to time.
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