State Bank Rawalpindi Holds Consultative Session on PM’s Housing Program to Boost Affordable Housing
Rawalpindi (Special Correspondent): A significant consultative session was convened by State Bank Rawalpindi to promote the “Prime Minister’s Housing Program – Ghar Ho Tou Apna, Apna Ghar Program” and to address the challenges being faced in its implementation. The session was attended by a large number of representatives from 25 commercial banks, officials from the Rawalpindi Development Authority (RDA), a delegation from the Rawalpindi Chamber of Commerce and Industry (RCCI), general public, students from various universities, and representatives from 34 housing societies.
The session was chaired by Mr. Rizwan Khaleel Shamsi, Chief Manager, State Bank Rawalpindi. In his opening remarks, he appreciated the active role played by banks in promoting and facilitating the scheme. He advised developers and housing societies to promote vertical housing (high-rise buildings) as a sustainable and affordable solution for housing.
He further observed that over the past few years, forests and green belts in cities had been converted into housing societies, leading to significant environmental challenges. He emphasized that vertical urbanization is the most suitable solution to address environmental concerns while also providing low-cost housing.
The Chief Manager also shared successful low-cost housing models being implemented in various economies and stressed that these effective policies could be adapted to meet local requirements.
During the session, commercial banks raised issues related to documentation and discussed them in detail. At the same time, housing societies were given awareness briefings by banks on the features of the scheme, enabling them to disseminate the information among their customers. Banks recommended the introduction of a one-window operation for documentation at RDA to simplify and expedite the process. They also called for the appointment of designated focal persons from revenue authorities and RDA to ensure smooth processing.
The forum also featured open discussions on issues related to mortgage and lien marking, where all stakeholders shared their challenges and recommendations.
On this occasion, Sr.Deputy Chief Manager, Mr. Umar Siddique Khattak, announced that high-level events would be held in the near future. He also proposed the formation of a working group comprising all stakeholders to address the challenges and formulate recommendations for the promotion of affordable housing in Pakistan.
Participants affirmed their commitment to making Rawalpindi a model city for low-cost housing across the country. At the end of the session, all participants thanked State Bank Rawalpindi for organizing this valuable and comprehensive consultative session and termed it a great success.
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Prime Minister’s Apna Ghar Program is committed to providing affordable housing finance facilities across Pakistan under the vision “Ghar Ho Tu Apna”.