What is the monthly installment for PM’s ‘My Home My Pakistan’ scheme?

How much monthly installment is to be paid for 2 million loans on Prime Minister Imran Khan’s housing scheme, “My Home My Pakistan”? According to reports, the Governor of the State Bank of Pakistan (SBP), Raza Baqir, has allayed the concerns of the people regarding the loan and monthly installments for the ‘My Home’ Housing Project.

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Addressing an event organized for the My Home My Pakistan Housing Scheme in Islamabad, Raza Baqir said that in the past, the loan installment has never been less than what has been allocated for this project. He said that if a person takes a loan of Rs.2 million, the monthly installment will be only Rs.11,000. Never before in history has so much relief been provided on debt.

Raza Baqir said that earlier bank staff did not have this much training to better facilitate the public but now the situation has changed a lot and the people are being satisfied in every respect. Banks have so far approved loans of Rs.109 billion on applications received for this project.

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He said that applications worth over Rs.260 billion have been received, out of which banks have so far disbursed Rs.32 billion. Initially, there were some obstacles but now the staff is now working to the best of their abilities and disbursing about 1.7 billion rupees worth of loans every week.

According to reports, the Governor SBP thanked Finance Minister Shaukat Tareen for this achievement and said that we also received full support from him. Addressing the citizens, Baqir added that if your dream is to have your own home, then visit the nearest bank and get an application form so you can get a loan to build.

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Addressing the event, Shaukat Tareen thanked the Prime Minister and said that people do not understand how much work you have done. We held weekly meetings with the Governor SBP regarding this project. So far applications of Rs.260 billion have been received out of which Rs.106 billion has been approved.

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