Government to resume MPMG housing funding initiative next week

News sources said that on Tuesday, July 19, the federal government in Islamabad made the decision to relaunch the updated Mera Pakistan, Mera Ghar home financing scheme within a week. The government has changed the scheme so that it better fits the rate of the market and meets the needs of the people.

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Sources say that the update was sent out by the federal finance division, which said that the government is working to make the project more likely to succeed. According to the statement, the government recently put off giving out money under the scheme in order to deal with changes in the economy as a whole and rising interest rates. The ban was put in place from July 1 to August 31 so that the scheme’s business model could be restructured and looked at again. The Finance Minister Miftah Ismail said something similar last week. The minister said that the government would keep the public benefits package going.

But the interest rate offered by the program can’t be kept up, because the real interest rate has gone up to 15%, which is much higher than the interest rate offered by MPMG Finance, which is 3%.

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