Karachi: The State Bank of Pakistan (SBP) on Tuesday set up the Steering Committee on Housing and Construction Finance to promote the country’s housing sector, according to news sources.
The committee will devise and implement “sustainable market-led financing of housing projects and mortgages”. SBP Governor Reza Baqir said that the housing finance is a priority for the central bank and will be facilitated and supported with its promotion in the country.
At the recently held meeting, the SBP and commercial banks announced their intention to work on two pilot projects that includes one project on the state-owned land and the other on private sector builders’ models. This decision towards contributing to housing projects is in line with the government’s vision of building low-cost housing projects for people within the lower income brackets. The volunteering banks are asked to hold meetings on the financing of these pilot projects and will present their reports during the weekly meetings.
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.
