The weekly meeting of the National Coordinating Committee for Housing, Construction and Development, chaired by Prime Minister Imran Khan, was held on Thursday.
During the meeting, Governor SBP briefed Prime Minister Imran Khan on the provision of easy instalment loans to the poor and middle class.
The heads of National Bank, Allied Bank, Meezan Bank, Bank Al Habib, Habib Bank and Bank of Punjab briefed the Prime Minister about the provision of loans under the housing program.
The meeting was informed that the process of obtaining loans has been made easier and in this regard, separate desks have been set up in the branches. Private banks will provide loans under both Islamic and traditional banking.
The heads of the banks assured the government of their full cooperation in promoting the construction sector and providing housing to the poor.
He paid tribute to the Prime Minister and the government’s economic team for the steps taken by the business community, including banks, in the wake of the Corona epidemic.
The meeting was informed that technology was used to shorten the loan disbursement process.
The Prime Minister was informed that more private banks would also start providing loans. Every kind of convenience should be provided and especially their self-esteem should be taken care of.
The Chief Secretary Punjab informed the meeting that an online portal for constructions and builders has been launched which has received 6994 applications till date and 54% of them have been approved.
Relevant institutions informed of the meeting have also been linked through the online portal so that the approval process is not delayed.
Each approval process is time-bound and the applicant stays informed of their case through the mobile app. The Prime Minister said that all the provinces should make full use of the online portal to make the approval process fully transparent and expeditious.