Karachi July 23 2021: Housing building finance crossed PKR 100 billion mark for the first time in country’s history. During the fiscal year 2020-21, house building finance grew by 12 percent to PKR 103.6 billion as compared to PKR 92.5 billion at the end of fiscal year 2019-20, as per data released by State Bank of Pakistan.
Private Sector credit under for house construction grew by PKR 5.8 billion during the last month of current fiscal year
SBP Data Revealed
Federal PSDP Utilization Highest Since 2011-12
The increase in borrowing under this head is mainly driven by SBP’s measures to promote housing and construction of buildings in the country. In particular, SBP has assigned mandatory targets to banks in order to increase their housing and construction finance portfolio to at least 5 percent of their private sector credit by end of December 2021.
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