KARACHI: Following the directives of the federal government, the State Bank of Pakistan (SBP) on Thursday night asked banks to temporarily stop fresh disbursements under the Prime Minister’s Kamyab Jawan Youth Entrepreneurship Scheme and Government’s Mark-up Subsidy Scheme for Housing Finance known as Mera Pakistan Mera Ghar (MPMG).

According to the SBP, the government of Pakistan is considering to review/revise features of the Minister’s Kamyab Jawan Youth Entrepreneurship Scheme in light of recent developments in the macroeconomic scenario.

Accordingly, the SBP has advised all banks participating as executing agencies under PMKJ-YES to put on hold fresh disbursement from July 1, 2022 to July 15, 2022.

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In addition, according to another circular issued to banks, the government is also considering to review or revise features of the Mark-up Subsidy Scheme for Housing Finance in light of recent developments in macroeconomic scenarios.

Therefore, banks/DFIs /MFBs have been asked to put further disbursements under MPMG on hold from July 1, 2022 till August 31, 2022.

Copyright Business Recorder, 2022