Where’s my home?

The Mera Pakistan Mera Ghar (MPMG) scheme was introduced to not only support the mid- to lower mid-tier class of society but also promote the construction sector. According to data released by the State Bank of Pakistan (SBP), Rs100 billion has already been disbursed; when the coalition government decided to halt the scheme, applications for Rs236 billion out of the total received applications of Rs500 billion were awaiting approval. Government officials have clarified that they are revisiting the key features of the scheme to make it a win-win for all stakeholders involved.

Since the policy was temporarily suspended in July, it has now begun to have an impact on the construction sector and other industries. The finance division must immediately resume the scheme so that local businesses as well as individuals willing to avail themselves of the scheme are not inconvenienced. The resumption scheme is also likely to increase the country’s mortgage-to-GDP ratio, which is still lagging far behind in the region and will ultimately increase our GDP and other macroeconomic factors.

M Shamail Anwar

Karachi