PMRC office formally ianugurated

KARACHI: Pakistan Mortgage Refinance Company (PMRC) will provide long-term housing finance at fixed rate, which will increase affordability for mortgage borrowers, said Jameel Ahmad, deputy governor of the State Bank of Pakistan (SBP).

Formally inaugurating the office of Pakistan Mortgage Refinance Company recently, he appreciated the efforts of PMRC management and said it will also promote minimum quality standards in the housing finance sector.

The company must continue its journey towards fulfilling its role in providing affordable housing finance in Pakistan, he said. Saeed Ahmad, president of the National Bank of Pakistan (NBP) congratulated the PMRC board and the management for achieving this milestone.

He said housing is very close to his heart and he is very keen to see affordable housing in the country. He assured his full support to PMRC for starting its operations. PMRC Board of Directors chairman Rehmat A Hasnie thanked all the stakeholders for their continued support and contribution to making PMRC a viable entity. Rupan, CEO of PMRC, also thanked the respectable guests for their participation and supporting PMRC to meet its business goals.