Staff Reporter Karachi
The financing for the housing and construction sector increased significantly to Rs202 billion in March 2021 from Rs148 billion in June 2020, showing a growth of Rs54 billion or 36 percent in three quarters of FY2021.
In a statement on Tuesday, the State Bank of Pakistan (SBP) said that housing and construction finance has been progressing significantly and a momentum in housing and construction finance is building up.
The banks’ housing and construction finance portfolio has increased from Rs148 billion by the end of June 2020 to Rs202 billion in March 2021.
This represents a growth of Rs54 billion or 36 percent in three quarters of FY21 compared to a stagnant position in earlier quarters.
Such growth in housing and construction finance in such a period has never been witnessed in Pakistan’s history previously.
