A high-level meeting chaired by Finance Minister Ishaq Dar on Wednesday deliberated on structural changes in the existing Mera Pakistan Mera Ghar (MPMG) scheme to make it more targeted and accessible for the masses.
The chair was briefed on the Mera Pakistan Mera Ghar (MPMG) housing finance scheme, its financial features, its operational and functional constraints, and the way forward to provide housing finance facilities to the masses.
The minister expressed the resolve of the present government to provide housing facilities to low and middle-income groups at affordable prices.
He advised the relevant authorities to work out feasible proposals for addressing and resolving the operational ambiguities in the existing scheme for the benefit of the people. He extended the government’s all-out support to the stakeholders in this regard.
Naya Pakistan Housing & Development Authority (NAPHDA) chairman Lt. Gen (Retd) Anwar Ali Hyder, State Bank of Pakistan (SBP) Deputy Governor Sima Kamil, and other senior officers from the Finance Division and SBP attended the meeting.
It is pertinent to mention here that back in June, the State Bank of Pakistan (SBP) instructed banks to put further disbursements under Mera Pakistan Mera Ghar (MPMG) on hold from July 01, 2022, till August 31, 2022.
At the time, the Finance Division said that it is working with the State Bank of Pakistan (SBP) to reshape the scheme. Subsequently, the government gave the go-ahead to resume disbursements to already approved cases under the scheme.
However, the government has failed to roll out the promised reshaped scheme.
Editorial & Legal Practice Group
Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
Advocates High Court & Tax Counsel
Jurisdiction: Pakistan