Finance Minister Miftah Ismail Saturday said that the Mera Pakistan Mera Ghar (MPMG) scheme is being reshaped, hinting that the hold on disbursements might be lifted soon.
The minister said in a tweet that many people have approached him regarding the situation as they have already spent money based on the approval of the loans.
“I want to assure you that we are reshaping this scheme and no one will lose their money. We will resolve the issues within the next week,” the minister said.
The State Bank of Pakistan (SBP) had instructed banks to put further disbursements under the scheme on hold from July 01, 2022, till August 31, 2022.
“Government of Pakistan is considering to review/revise features of subject Scheme in light of recent developments in the macroeconomic scenario. Accordingly, banks/DFIs/MFBs are advised to put further disbursements under MPMG on hold from July 01, 2022, till August 31, 2022,” the central bank said in a circular.
However, the central bank said that in those cases where partial disbursements have already been made till June 30, 2022, banks/DFIs/MFBs may release the remaining disbursement under MPMG.