NPHP: SBP to reserve 5% portfolio for housing finance

I watched Imran Khan on the news yesterday, saying that the government has come to an arrangement with the State Bank and others to allocate 5% of their portfolios to housing finance. I am aware that the PTI govt is very big on housing finance and all their focus is on mortgages and foreclosure laws. People can take a loan to construct their NPHP homes and pay a subsidised interest rate; 5% for 5-marla and 7% interest rate for 10-marla homes.

Now, like most Pakistanis, I don’t fully trust bank loans for something as important as houses. I have heard one too many stories of houses being auctioned off for non-payment. Then there is the religious angle as well… So, I would very much like to know your reviews? Can the experts here tell me the pros and cons of housing finance? Like what are your concerns or does it convince you? Is this facility a blessing or will it prove to be destructive?