Microfinance banks and Naya Pakistan Housing Scheme 

As per State Bank of Pakistan’s circular number IH & SMEFD dated 25th March 2021 regarding  financing of Naya Pakistan Housing Scheme   “  financing under Tier 0 is available through micro finance banks for housing units”. I have today spoken to a Micro Finance Bank in Lahore and found out that it not financing Naya Pakistan Housing Scheme. I have spoken to a commercial bank in Lahore and was told it is not providing finance for housing units under Tier 0 of Naya Pakistan Housing Scheme because as per above referred SBP’s circular,  micro finance banks should finance housing units under Tier 0. Naya Pakistan Housing Scheme is to help the economically weak and financially underserved segment of our society . I would like to  request  State Bank of Pakistan to look into this matter  and ensure that Micro Finance Banks implement SBP’s directive of it’s circular dated 25th Match 2021 and thus help the weak segment of our society to realise dream of owning house.

Ejaz Ahmad Magoon

Lahore