ISLAMABAD: The State Bank of Pakistan (SBP) has informed the National Coordination Committee on Housing (NCCH) that other commercial banks would also start lending for the sector as the heads of National Bank of Pakistan, Allied Bank, Bank of Punjab, Meezan Bank and Bank Al Habib held a meeting with Prime Minister Imran Khan.

Prime Minister Imran Khan Thursday directed that the poor people should be facilitated, while getting loans from banks for construction of their houses, during a meeting of the NCCH, he presided over on housing construction and development.

SBP Governor Dr Reza Baqir briefed the premier about the measures, so far taken to make sure that poor have access to bank loans for construction of their own homes.

He apprised the prime minister that the process of loans was made easier for providing loans to low and middle-income groups on easy installments.

The meeting was informed that the process was made easier with installation of separate desks in bank branches and now the private banks were offering both Islamic and traditional loans to consumers for construction of houses.

The heads of banks have assured the government of their full cooperation for promotion of housing sector and providing facilitates to the poor applicants who would apply for loans to have their own houses.

They added that use of technology was being made for verification of the documents of those applying for loans.

The chief secretary Punjab informed the meeting that online portal was initiated for builders and developers and so far 6,994 applications had been received on the portal, and 54 percent of the received applications had been approved.

The meeting was informed that relevant departments had also been linked with the portal, so to avert delay and an applicant was updated through his mobile app.

The prime minister said that all the provinces should make full use of the online portal to ensure transparency in the process of approval.

Copyright Business Recorder, 2020