Govt reduces mark-up rate for buyers of Neya Pakistan Housing Scheme

The government has reduced the mark-up rate for the home buyers of the Neya Pakistan Housing Scheme on Monday.

According to the 24News HD TV channel, the government has revised the loan period and markup subsidy for consumers. The State Bank of Pakistan has also issued a circular in this regard.

The markup on New Pakistan Housing Scheme’s First Class Consumer Loans for 1 to 5 years will be only 2 per cent.

While the mark-up on first-tier consumer loans for 6 to 10 years will be 4 per cent and the mark-up for 11 to 15 years housing loans will be 5 per cent.

Prior to the amendments, the markup on first-class consumer loans was 3 per cent for the first five years and 5 per cent for the next five years.

Reporter: Ashraf Khan