Islamabad: Finance Minister Miftah Ismail, on Saturday (July 16), announced the restructuring of the Mera Pakistan Mera Ghar (MPMG) scheme to adjust the increased interest rates, news sources reported. The Minister said that the government will ensure that no one loses money following the restructuring of the scheme.<\/p>\n\n\n\n
Read:<\/strong> PM approves PKR 100 bn for low-cost \u2018Mera Pakistan Mera Ghar Project<\/a><\/p>\n\n\n\n In a series of tweets, the minister reportedly explained the reasons behind the restructuring of the home finance scheme. He asserted that, while mortgage financing is accessible at significantly lower rates, actual market interest rates<\/a> have risen by up to 15%. According to his statements, the programme cannot continue at the current offer rate since the government would be required to provide a significant subsidy. He stated that he had received letters from individuals describing the housing scheme and how they had spent money after their loans were approved to purchase homes.\u00a0\u00a0\u00a0<\/p>\n\n\n\n