PM instructs SBP, NBP to Ease Terms of Housing Loan

Prime Minister Imran Khan has instructed the State Bank of Pakistan (SBP) and National Bank of Pakistan (NBP) to soften terms of housing loan to create convenience for low-income people so that they can get maximum benefits from the government’s flagship Naya Pakistan Housing Programme (NPHP).

The premier while virtually attending the NAB’s telethon on low cost housing loans said that the Governor State Bank and President National Bank are instructed to assist people in house loans. Mr Khan vowed that the government would give privilege to the widows and differently-abled persons while implementing the programme.

The PM directly communicated with the loan seekers and listened to their complaints regarding the lengthy and complicated process of house loan applications under the mortgage financing scheme.

He further said that it’s first-time in the history of Pakistan that the salaried class are given the opportunity to have their own houses as the NPHP had been designed meticulously in a way the beneficiaries currently paying house rent would be using the rent amount to pay housing loan’s installments.

The telethon was attended by Senator Shibli Faraz, NPHA chairman retired Lt-Gen Anwar Ali Hyder, SBP Governor Reza Baqir, NBP president Arif Usmani and SBP Executive Director Samar Hasnain.