The federal government will today (Friday) approve Rs. 100 billion in financing for 50,000 housing units during the current fiscal year. The Ministry of Housing and Works is placing the summary before the Economic Coordination Committee (ECC) for formal approval.
The scheme offers first-time homeowners subsidied housing finance for up to 20 years, a fixed rate for the first 10 years and a market rate for the next 10. Banks will receive 10 percent first-loss risk coverage on outstanding portfolios, reported a news daily.
Under Tier-I, the loan limit is up to Rs. 2 million, and for Tier-II, above Rs. 2 million up to Rs. 3.5 million. Pricing will be one-year KIBOR plus 3%.
Eligible housing units include up to 5 marla houses or flats of up to 1,360 sq. ft. All commercial banks, Islamic banks, microfinance banks, and HBFCL will participate.
The Ministry of Commerce has been directed to submit a full sector analysis and duty impact report.
The ECC will take up a summary on an edible oil pricing scam. Despite a 24 percent drop in global edible oil prices since December 2024, local prices have risen 4.5 percent, allowing profiteers to extract Rs. 150 per litre in unjustified margins. The Ministry of Industries has submitted the matter for ECC review.
