Banks Brief PM As How Can Poor Get Loan Easily To Build Own Homes


Banks brief PM as how can poor get loan easily to build own homes

The PM has directed the banks to provide loans to poor by taking care of their self-esteem.

ISLAMABAD: (UrduPoint/Pakistan Point News-Oct 22nd, 2020) Heads of number of banks informed Prime Minister Imran Khan about provision of loans for poor people under Naya Pakistan Housing programme, the sources said.

They said that the heads of the banks assured the PM that construction sector would be promoted and facilitated and poor people would supported to build their own houses.

According to Radio Pakistan, the heads of banks paid rich tribute to the Prime Minister and government's economic teams for taking steps to facilitate the business community and banks in view of COVID-19 pandemic. The meeting was apprized that technology was being used to reduce the time period in the process of provision of loans to verify antecedents of the borrowers.

Heads of National Bank, Allied Bank, Meezan Bank, Bank Al-Habib, Habib Bank and the Bank of Punjab were present there.

The PM was told that the process for acquisition of loans was made simple and separate desks were established in bank branches. The sources said that the PM was briefed that Private Banks would provide loans under Islamic and traditional banking facilities.

Prime Minister Imran Khan asserted that the poor should be facilitated in availing loans from banks, while taking care of their self-esteem.

The PM asked all the provinces to massively use online portal to make the loan approval process transparent and prompt.

Governor State Bank Dr. Reza Baqir also briefed the meeting about provision of loans to the poor and the middle class on easy installments. The Prime Minister was informed that more private banks would also start provision of loans soon.

Chief Secretary Punjab briefed the meeting that an online portal for construction and builders has been launched. As many as 6,694 applications were received so far and 54 percent of them approved, he added.

Fida Hussnain

Fida Hussnain is a lahore based journalist. He writes on politics, religion, social issues and climate change. He is also a research fellow at University of Gujrat.