Housing finance rises to Rs307bn by mid-August

Business Recorder reported that housing finance rose to Rs307 billion by mid-August, from about Rs294 billion at end-June. Finance Minister Muhammad Aurangzeb chaired the fortnightly Access to Finance Steering Committee meeting on Tuesday. Applications, approvals and disbursements expanded in housing, farming, small enterprises and electric vehicles.

Under the Wazir-e-Azam Apna Ghar Program, applications rose 52 percent since June to nearly 139,000 and approvals climbed 84 percent to over 46,000. Approved financing almost doubled to Rs279 billion from Rs144 billion, while loans disbursed exceeded 7,600, worth more than Rs38 billion. Revised State Bank of Pakistan housing rules, including a 90:10 loan-to-value ratio, and the FIRA amendment act were cited as supportive reforms. The industry was also urged to supply more affordable homes, which could lift cement and construction activity.

Agriculture borrowers numbered 3.37 million in mid-August, up from 3.26 million at the end of June, while farm financing held near Rs1.26 trillion. Under Zarkhez-e-Asaan Zarai Qarza, over 58,000 farmers have registered, and approvals rose about 12 percent to nearly 16,700. On SMEs, formal financing reached roughly Rs1.05 trillion across about 330,000 businesses. The medium-term target is Rs1.5 trillion for these two sectors by June 2027, rising to Rs2 trillion in June 2028.