{"id":82875,"date":"2022-01-07T12:22:03","date_gmt":"2022-01-07T07:22:03","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=82875"},"modified":"2022-01-07T12:22:07","modified_gmt":"2022-01-07T07:22:07","slug":"financing-to-construction-sector-increases","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/financing-to-construction-sector-increases.html","title":{"rendered":"Financing to construction sector increased, SBP shares statistics"},"content":{"rendered":"\n<p>Karachi: The State Bank of Pakistan (SBP) on Thursday (January 6) disclosed that the bank lending to the housing and construction sector has seen an unprecedented growth of 85% during 2021, according to news sources.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/state-bank-introduces-international-payment-system-local-companies-freelancers.html\" target=\"_blank\" rel=\"noreferrer noopener\">State Bank introduces int\u2019l payment system for local companies, freelancers<\/a><\/p>\n\n\n\n<p>As per the details, the SBP also reported that the banks\u2019 outstanding credit for the construction sector has increased from PKR 163 billion to PKR 355 billion during the year 2021. It was mentioned that the loan disbursement under the prime minister\u2019s low-cost housing scheme, commonly known as <a href=\"https:\/\/www.zameen.com\/news\/mera-pakistan-mera-ghar-faqs-on-procuring-home-loans-for-low-cost-nphp-houses.html\" target=\"_blank\" rel=\"noreferrer noopener\">Mera Pakistan, Mera Ghar<\/a>, also increased to PKR 38 billion.<br>It is pertinent to note that the government launched the Mera Pakistan, Mera Ghar scheme in October 2020 to boost the housing sector. Under this scheme, the aim is to provide loans at cheap rates to low-income families for the construction of houses.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/state-bank-makes-asset-declaring-process-simpler.html\" target=\"_blank\" rel=\"noreferrer noopener\">State Bank makes asset declaring process simpler<\/a><\/p>\n\n\n\n<p>Moreover, the SBP has ordered banks to increase their housing and construction finance portfolios to 5% of their domestic private sector advances by December 2021. The central bank has also introduced incentives and penalties for compliance.<br>The SBP has created an enabling regulatory environment for banks to increase housing finance including waiver of Debt Burden Ratio (DBR) in case of informal income, allowing acceptance of third party guarantees during the construction period, and introduction of standard facility offer letters by the banks.<\/p>\n\n\n\n<p>Reportedly, Bank Al Habib, Meezan Bank, and Habib Bank were the main contributors to the significant growth of housing and construction financing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The State Bank of Pakistan (SBP) on Thursday (January 6) disclosed that the bank lending to the housing and construction sector has seen an unprecedented growth of 85% during 2021, according to news sources. Read: State Bank introduces int\u2019l payment system for local companies, freelancers As per the details, the SBP also reported that the banks\u2019 outstanding credit for the construction sector has increased from PKR 163 billion to PKR 355 billion during the year 2021. It was mentioned that the loan disbursement under the prime minister\u2019s low-cost housing scheme, commonly known as Mera Pakistan, Mera Ghar, also increased to PKR 38 billion.It is pertinent to note that the government launched the Mera Pakistan, Mera Ghar scheme in October 2020 to boost the housing sector. Under this scheme, the aim is to provide loans at cheap rates to low-income families for the construction of houses. Read: State Bank makes asset declaring process simpler Moreover, the SBP has ordered banks to increase their housing and construction finance portfolios to 5% of their domestic private sector advances by December 2021. The central bank has also introduced incentives and penalties for compliance.The SBP has created an enabling regulatory environment for banks to&hellip;<\/p>\n","protected":false},"author":75,"featured_media":76277,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016,15017],"tags":[50409,45912,21853],"persona":[],"class_list":{"0":"post-82875","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"category-notices-announcements","9":"tag-financing-to-construction-sector-increased","10":"tag-mera-pakistan-mera-ghar-housing-finance-scheme","11":"tag-state-bank-of-pakistan-sbp","12":"cat-15016-id","13":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Financing to construction sector increased: SBP - Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: The State Bank of Pakistan (SBP) on Thursday (January 6) disclosed that the bank lending to the housing and construction sector has seen an\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/financing-to-construction-sector-increases.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Financing to construction sector increased: SBP - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Karachi: The State Bank of Pakistan (SBP) on Thursday (January 6) disclosed that the bank lending to the housing and construction sector has seen an\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/financing-to-construction-sector-increases.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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