{"id":87069,"date":"2022-07-04T11:27:18","date_gmt":"2022-07-04T06:27:18","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=87069"},"modified":"2022-07-04T14:55:10","modified_gmt":"2022-07-04T09:55:10","slug":"sbp-low-cost-housing-youth-loan-scheme","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/sbp-low-cost-housing-youth-loan-scheme.html","title":{"rendered":"Funding for low-cost housing, youth loan scheme temporarily suspended"},"content":{"rendered":"\n<p>Karachi: The State Bank of Pakistan (SBP) has temporarily suspended disbursement of funds for the Mera Pakistan Mera Ghar (MPMG) low-cost housing scheme and Youth Entrepreneurship Schemes (YES), news sources reported on July 3. The central bank has cited changing monetary policy and a review of the existing rules as the reasons for the temporary halt.\u00a0<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/pm-100-bn-mera-pakistan-mera-ghar.html\" data-type=\"post\" data-id=\"82575\" target=\"_blank\" rel=\"noreferrer noopener\">PM approves PKR 100 bn for low-cost \u2018Mera Pakistan Mera Ghar Project<\/a><\/p>\n\n\n\n<p>According to reports, the SBP has directed banks to halt processing and payment of funds for the MPMG for two months, from July 1 to August 31, while financing for the <a href=\"https:\/\/www.zameen.com\/news\/kamyab-jawan-programme-pkr-10-bn-sindh.html\" data-type=\"post\" data-id=\"83784\" target=\"_blank\" rel=\"noreferrer noopener\">Prime Minister&#8217;s Kamyab Jawan Youth<\/a> Entrepreneurship Schemes (PMKJ-YES) has been halted for two weeks, till July 15. However, the funding will continue in all those housing finance cases where a partial finding has been released before or at the conclusion of the financial year on June 30.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>Explaining the reason for the suspension, the central bank said that it has based its decision on a higher policy rate of 13.75% and the country&#8217;s macroeconomic condition. It went on to say that the government has withdrawn all subsidies to reach an agreement with the International Monetary Fund (IMF), increase revenue, and reduce the fiscal deficit.&nbsp;&nbsp;<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/sbp-interest-rate-150-points.html\" data-type=\"post\" data-id=\"86123\" target=\"_blank\" rel=\"noreferrer noopener\">SBP hikes interest rate by 150 points, reaches 13.75%&nbsp;<\/a><\/p>\n\n\n\n<p>Moreover, the SBP stated that the YES scheme would be suspended for 15 days till July 15 to examine and adjust the features of the scheme in light of recent changes in macroeconomic conditions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The State Bank of Pakistan (SBP) has temporarily suspended disbursement of funds for the Mera Pakistan Mera Ghar (MPMG) low-cost housing scheme and Youth Entrepreneurship Schemes (YES), news sources reported on July 3. The central bank has cited changing monetary policy and a review of the existing rules as the reasons for the temporary halt.\u00a0 Read: PM approves PKR 100 bn for low-cost \u2018Mera Pakistan Mera Ghar Project According to reports, the SBP has directed banks to halt processing and payment of funds for the MPMG for two months, from July 1 to August 31, while financing for the Prime Minister&#8217;s Kamyab Jawan Youth Entrepreneurship Schemes (PMKJ-YES) has been halted for two weeks, till July 15. However, the funding will continue in all those housing finance cases where a partial finding has been released before or at the conclusion of the financial year on June 30.&nbsp;&nbsp;&nbsp; Explaining the reason for the suspension, the central bank said that it has based its decision on a higher policy rate of 13.75% and the country&#8217;s macroeconomic condition. It went on to say that the government has withdrawn all subsidies to reach an agreement with the International Monetary Fund (IMF), increase revenue, and&hellip;<\/p>\n","protected":false},"author":84,"featured_media":76277,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[52996,52997],"persona":[],"class_list":{"0":"post-87069","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-sbp-suspends-low-cost-housing-youth-loan-scheme","9":"tag-youth-entrepreneur-schemes-yes","10":"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>SBP suspends low-cost housing youth loan scheme- Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: The State Bank of Pakistan (SBP) has temporarily suspended disbursement of funds for the Mera Pakistan Mera Ghar (MPMG) low-cost housing scheme\" \/>\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\/sbp-low-cost-housing-youth-loan-scheme.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBP suspends low-cost housing youth loan scheme- Zameen News\" \/>\n<meta property=\"og:description\" content=\"Karachi: The State Bank of Pakistan (SBP) has temporarily suspended disbursement of funds for the Mera Pakistan Mera Ghar (MPMG) low-cost housing scheme\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/sbp-low-cost-housing-youth-loan-scheme.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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