SBP Progresses Mechanism for Markup Subsidy Scheme
According to a news source, the State Bank of Pakistan (SBP) has developed a comprehensive markup subsidy plan for housing finance and sent it to banks and development finance institutions (DFIs), which are serving as the initiative’s Execution Agencies (EAs).
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The banks and DFIs were instructed to submit their claims to the Development Finance Support Department (DFSD), SBP BSC, and Karachi within 15 working days of the end of each quarter in a detailed circular to all the EAs.
Also, it was stated that EAs must file their claim for the quarters ending in December 2020 and March 2021 within 15 working days of the day this circular was issued.
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According to the central bank, EAs will evaluate client financing requests in accordance with the guidelines of the markup subsidy programme for housing finance, which were approved by the federal cabinet and distributed by the SBP to all banks/DFIs on March 25 and are periodically reviewed.
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