SBP puts fresh disbursements on hold for housing, youth schemes
KARACHI: The State Bank of Pakistan (SBP) has put on hold fresh disbursements under the government markup subsidy scheme for housing finance and Prime Minister's Kamyab Jawan Youth Entrepreneurship Scheme (PMKJ-YES) which analysts say is an attempt to rein in the budget deficit to revive the IMF bailout.
“It is advised that the Government of Pakistan is considering review/revise features of subject Scheme in light of recent developments in the macroeconomic scenario,” the SBP said in a circular on Thursday.
“Accordingly, banks, development finance institutions, and microfinance banks are advised to put further disbursements under 'Mera Pakistan Mera Ghar (MPMG) on hold from July 01, 2022, till August 31, 2022. However, in those cases where partial disbursements have already been made till June 30, 2022, banks may release remaining disbursement under MPMG,” it added.
Retrieved from: https://www.thenews.com.pk/print/970527-sbp-puts-fresh-disbursements-on-hold-for-housing-youth-schemes
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