Islamabad: The State Bank of Pakistan (SBP) has urged greater focus on vertical housing developments to support the implementation of the Prime Minister’s “Ghar Ho Tou Apna, Apna Ghar Programme”, describing high-rise projects as a sustainable and affordable solution to the country’s housing needs.
The call came during a consultative session organised by SBP Rawalpindi, which brought together representatives of commercial banks, the Rawalpindi Development Authority (RDA), the Rawalpindi Chamber of Commerce and Industry (RCCI), housing societies, university students and members of the public to discuss the programme’s implementation and related challenges.
Chairing the session, Chief Manager SBP Rawalpindi Rizwan Khaleel Shamsi acknowledged the role of banks in facilitating the housing initiative and encouraged developers and housing societies to prioritise vertical housing projects. He said the rapid expansion of housing societies had reduced forests and green spaces, while vertical urban development could help protect the environment and provide more affordable housing.
He also highlighted successful low-cost housing models adopted in other countries and suggested that similar approaches could be tailored to Pakistan’s requirements.
During the session, commercial banks discussed documentation-related issues and briefed housing society representatives on the programme’s features to improve public awareness. Participants proposed introducing a one-window documentation system at the RDA and appointing dedicated focal persons from the RDA and revenue authorities to expedite processing.
Stakeholders also discussed mortgage and lien-marking procedures, sharing operational challenges and proposing measures to improve implementation.
Senior Deputy Chief Manager Umar Siddique Khattak announced that additional high-level engagements would be held in the coming months and proposed establishing a working group comprising key stakeholders to develop recommendations for promoting affordable housing across the country.
Participants reaffirmed their commitment to supporting low-cost housing initiatives and appreciated SBP Rawalpindi for organising the consultative session.
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