Govt allows to resume disbursements under MPMG

MG News | July 25, 2022 at 10:52 PM GMT+05:00

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July 25, 2022 (MLN): The government on Monday finally allowed banks to resume disbursements to already approved cases under Mera Pakistan Mera Ghar Scheme (MPMG).

Finance Division has today conveyed its permission to resume disbursements to already approved cases under MPMG, the Ministry of Finance informed today while taking its official Twitter handle.

Banks have also been asked to reduce their spread over KIBOR, it added.

Earlier on Friday, Finance Minister Miftah Ismail stated that the government will continue with the MPMG low-cost housing loan scheme for all those whose loan applications have been approved and who have paid advances.

In a series of Tweets, Miftah Ismail said that government will also ask the banks to reduce the interest rate charged.

“We are still in the process of reshaping the scheme to make it cheaper and more widespread”, he said adding that this revised scheme will be rolled out soon.

The government also assured that investments already made by the general public through the scheme would remain protected.

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