PM directives to ease housing loans lauded

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ISLAMABAD, March 31 (Online): Former President ICCI Shahid Rasheed Butt on Wednesday lauded Prime Minister Imran Khan for taking steps aimed at facilitating the masses to get bank loans for their houses.

Masses were facing problems due to the reluctance of some banks to provide housing loans therefore the PM has directed the State Bank of Pakistan (SBP) and National Bank to take steps to provide relief to the masses, he said.

SBP has been asked to push commercial banks to lend, as the pace of advances is not satisfactory due to risk factor, he added.

Shahid Rasheed Butt said that one reason behind the reluctance of banks is the weak legal mechanism to recover the loans given to masses for the construction of their houses.

He noted that banks have informed the government about their reservations while the government has promised to sort out the issue but nothing concrete has been done so far.

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