Faisalabad March 22 2022: In an overwhelming response to the first ever Mera Pakistan Mera Ghar (MPMG) Mela organized by State Bank in Faisalabad, banks logged in applications of PKR 18 billion from applicants.
In the two-days of Mela, held during 19-20 March, 2022, more than 30,000 people visited to obtain information about the MPMG and apply for loans through banks’ one-window facilitation. Against the applications logged in, banks provided conditional approvals of around Rs7.4 billion.
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At the inauguration ceremony of the Mela, Dr. Reza Baqir, Governor State Bank in his keynote address took the audience through MPMG journey. He mentioned that through continuous efforts by SBP, Government, NAPHDA and banks, the number of applications for financing and their approvals are consistently on the rise as banks are approving over Rs4.5 billion and disbursing around Rs2.3 billion per week.
As a result of the MPMG scheme, applications for financing for affordable housing that was almost non-existent around 15 months ago has reached to Rs357 billions of which Rs157 billions of applications have been approved and Rs56 billion disbursed so far.
