Plan in works to establish Pakistan’s first Housing Finance regulatory authority

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KARACHI: The government is working to establish ‘Pakistan Housing Bank’ – the first housing finance regulatory authority.

The announced regulatory authority will be set up in due time, informed Finance Minister Shaukat Tarin, while unveiling the economic plan for sustainable growth. The regulatory body will accommodate the rapidly growing housing finance market in the country.

Prior to this, the housing finance market was being regulated by the State Bank of Pakistan.

To fill this gap, three housing finance companies — Pakistan Housing Finance Company, Trellis Housing Finance Company, and Asaan Ghar Finance Ltd-have been issued licenses by the Securities and Exchange Commission of Pakistan in 2020-21.

The companies are expected to operationalise within this year.

 

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