Mera Pakistan Mera Ghar Scheme may recommence with a condition placed by the government under which loan disbursements will be made only to cases that have previously been approved.
This implies that those who received clearance from the authorities would be given loans for the purchase and construction of their homes; however, fresh loan applications won’t be considered until further notice.
The Ministry of Finance instructed the finance minister to take the required actions to release loans for accepted applicants. On July 22, 2022, Miftah Ismail declared that the Mera Pakistan Mera Ghar (MPMG) program would resume.
The accepted individuals will get housing loans with the terms of repayment remaining the same as before.
The finance minister also said that he would request the banks to lower their interest rate, and that the government was still trying to reform the program so that it was less expensive and more accessible to more people.
Mera Pakistan Mera Ghar Scheme is a lending program offered by the Pakistani government that enables people with limited income to get loans with simple terms for building homes.
In order to increase the supply of sufficient housing in the country, the previous government implemented this program through the State Bank of Pakistan (SBP).
The government had to halt this program for two months due to insufficient finances in the national treasure, and as there were no funds allocated for this program in the budget 22/23 according to the State Bank officials.
