According to a statement released by the State Bank of Pakistan, housing and construction industry finance increased by Rs111 billion in FY21, or 75%, to Rs259 billion, compared to financial year 20.

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Dr Reza Baqir-SBP Governor presented the data to the participants at a meeting of the National Coordination Committee on Housing, Construction, and Development (NCCHCD), which was chaired by Prime Minister Imran Khan.

“About 97 percent of the whole objective set by State Bank for June 30, 2021 was met,” the SBP official said, adding that an increase of this magnitude in housing and construction finance in a year is unprecedented in Pakistani history.

Nonetheless, the PM highlighted that banks’ portfolios must show strong growth in loan expenditures in the coming days, according to the SBP.

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