Finance Minister Miftah Ismail announced on Friday that the government will continue with the low-cost housing finance scheme Mera Pakistan Mera Ghar (MPMG) for all those whose loan applications have been approved and who have paid advances.
In a tweet, the finance minister said the government will also ask the banks to reduce the interest rate.
The minister further said that the government is still in the process of reshaping the scheme to make it cheaper and more widespread. This revised scheme will be rolled out soon.
“This revised scheme will be rolled out soon,” the minister added.
The Finance Division had recently said that the scheme has been put on hold temporarily due to changed market conditions and for better targeting.
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.
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