Finance Minister Miftah Ismail has announced on Friday that the government will continue ‘Mera Pakistan Mera Ghar Scheme’ for all those applicants whose loan applications have already been approved or who have been paid advances.
“The government will continue with the MPMG housing loan scheme for all those whose loan applications have been approved and who have been paid advances (bayana).” Finance Minister Miftah Ismail said on Twitter.
He added that the government has asked the banks to reduce the interest rate charged for the Mera Pakistan Mera Ghar (MPMG) housing loan scheme.
However, the government is still in the process of reshaping the scheme to make it cheaper and more widespread, said the Finance Minister, adding that revised scheme will be rolled out soon.
We are still in the process of reshaping the scheme to make it cheaper and more widespread. This revised scheme will be rolled out soon. 2/2 //— Miftah Ismail (@MiftahIsmail) July 22, 2022
It is pertinent to mention that State Bank of Pakistan (SBP) had instructed banks of hold disbursed of payments under the Mera Pakistan Mera Ghar (MPMG) Scheme from July 1, 2022 till August 31, 2022 as the Government planned to review and revise the features of the MPMG.
However, the Finance Minister has announced to continue with the programme for all those applicants who have been approved or partial payments have been disbursed. Although, the scheme is still on hold for all new applicants or those not approved for the housing loan.
Furthermore, the Prime Minister’s Kamyab Jawan Program was also halted by the Government to review and revise its features from July 1, 2022 to July 15, 2022.