House Building Finance Corporation Limited (HBFC) wants a different interest rate by State Bank of Pakistan (SBP) to increase its lending to low income sections of society.
Officials told Business Recorder that interest rate policy and complicated procedures formulated by SBP are applied on all commercial banks and HBFC, although the latter mainly caters to lower income people of society to help them build their houses. Therefore, such a criterion sounds quite unrealistic, they added.