NAPHDA: Banks extends loans worth Rs38bn among 12000 applicants

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ISLAMABAD: During a press conference, the spokesperson for the Naya Pakistan Housing and Development Authority (NAPHDA) confirmed that commercial and microfinance banks granted Rs38 billion in loans to 12,000 qualifying applicants for house construction, with a very low 2% markup. 

While shedding the light on facts, he stated that 70,000 applications were received for verification and eligible individuals were given Rs38 billion in loans, with the remaining Rs30 billion available for house loans. 

He also stated that 20,000 houses have been built under the NAPHDA, with a target of 60,000 more being built.

In addition to the subsidies granted to private developers, he said the federal government is providing Rs35 billion subsidy to keep the markup at a reasonable level. 300,000 low-cost and economical homes would be built by private developers.


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