ISLAMABAD – February 7 (ONLINE): State Bank of Pakistan (SBP) and the Finance Ministry have reportedly received a report by the International Monetary Fund (IMF), demanding to roll back much-talked prime minister’s low-cost housing project.
According to media reports, SBP and Finance Ministry have confirmed the news but haven’t decided on it yet.
Private news channel quoted sources as saying that the Finance Ministry had also received the report. “The SBP had directed the commercial banks to give loans for the housing scheme on 5-7 percent interest”
“The construction industry, including builders and 72 industries associated with it, made progress due to the scheme. However, the IMF had expressed its reservations about the scheme,” news channel quoted sources as saying.
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