Housing finance rises to Rs307bn by mid-August
ISLAMABAD: The government has reviewed significant progress in expanding access to finance, with housing finance rising to Rs307 billion and strong growth recorded in applications, approvals and disbursements across housing, agriculture, SMEs and electric vehicles. Federal Minister for Finance and Revenue, Muhammad Aurangzeb, chaired the fortnightly meeting of the Access to Finance Steering…
Islamabad: Federal Minister for Finance and Revenue, Muhammad Aurangzeb, presided over a meeting of the Access to Finance Steering Committee on Tuesday, reviewing advancements in housing finance, agriculture, SMEs, and electric vehicles. The Committee highlighted a significant rise in housing finance to Rs307 billion by mid-August, with applications increasing by 52 percent to nearly 139,000, approvals growing by 84 percent to over 46,000, approved financing nearly doubling from Rs144 billion to Rs279 billion, and loans disbursed growing by 59 percent to over 7,600, totaling over Rs38 billion.
The Committee also noted progress in agriculture and SME financing, with applications increasing and approvals and disbursements rising. Additionally, the Committee emphasized the importance of connecting finance with export-led growth, reviewing enhanced financing support for exporters and SMEs, and discussed the Performance Based Rebate on Incremental Exports.
The meeting also covered the Pakistan Accelerated Vehicle Electrification Programme, with over 83,000 applications received, 15,800 approved, and nearly 4,000 loans disbursed, indicating a significant increase in electric vehicle deliveries.
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