SBP to finance two pilot housing projects.


KARACHI -- The State Bank of Pakistan (SBP) on Tuesday set up a Steering Committee on Housing and Construction Finance to prepare for and implement sustainable market-led financing of housing projects and mortgages in order to promote the development of housing and construction industry in the country.

'Housing finance was a priority area for the central bank and the SBP will play a facilitative and supportive role for its promotion in the country,' said SBP Governor Reza Baqir.

At the meeting, the SBP and commercial banks announced their decision to work on two pilot projects: one on the government land and other on the private sector builders' models. The SBP is gearing up efforts for housing projects in the light of government's plan to build low-cost...

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