PM inaugurates Peri Urban Housing Scheme in Lahore

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LAHORE: Prime Minister Imran Khan on his visit to Lahore today inaugurated  Punjab Peri-Urban Housing Scheme at Raiwind.

On the occasion, the PM also virtually inaugurated the same schemes in 10 tehsils of Punjab including DG Khan, Khushab, Khanewal, Mianwali, Jalalpur Pirwala, Sargodha, Chiniot, and Chunian.

According to the details, the Punjab Board of Revenue for the construction of residential colonies in 35 districts of the province has offered 133 different sites. The colonies will comprise 100 to 500 units.

The first phase of the scheme will be developed by Frontier Works Organisation (FWO) which will include the construction of housing units over 3.5 Marla.

The Punjab Peri-Urban Housing Scheme is the joint collaboration of the Punjab Government and Naya Pakistan Housing and Development Authority.


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Housing finance witnesses 36pc growth

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KARACHI: The State Bank of Pakistan (SBP) on Tuesday stated that housing finance has witnessed an unprecedented growth of 36pc during the 2020-2021 period.

According to the details, housing and construction finance has witnessed an increase of Rs54bn from June 2020 to March 2021. The portfolio in June 2020 stood at Rs148bn and increased to Rs202bn in 2021.

This marks a growth of 36pc in the first three quarters of Fiscal Year 2021 as compared to the stagnant growth in the same period last year.

As per SBP, housing finance is likely to grow in the future since mortgage finance is gaining momentum under Mera Pakistan Mera Ghar Scheme.

From April 2020, the general public has applied for housing finance for more than Rs52bn and applications of Rs15bn have been approved by various banks.


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