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KARACHI: The Pakistan Mortgage Refinance Company (PMRC) has signed an agreement to provide loans worth Rs4.8 billion for the provision of low-cost housing under the programme initiated by Prime Minister Imran Khan. In a ceremony held recently at the Pakistan Housing Conference in Islamabad, the PMRC signed agreements and memoranda...
ISLAMABAD:  The local government of the federal capital is considering imposing a property tax on housing societies and model villages in the rural areas of the city apart from imposing two rupees per litre as a tax on mineral and bottled water sold in the city. This was decided in the...
KARACHI: Singapore on Monday showed interest and offered Pakistan its expertise for building 5 million low cost houses in the next five years. The offer was placed by Mr Shamsher Zaman — Singapore’s ambassador to Jordan, vice chairman of South Asia Business Group, and chairman of Middle East Business Group...
KARACHI: The real estate sector has always been targeted by the gamblers and people involved in money laundering. Transfer of property files from one investor to another on speculation that prices will shoot up has been the norm. This has badly impacted the purchasing power of genuine buyers of houses and...
POLICYMAKERS are trying to make low-cost housing affordable for lower-middle and low income segments, and incentivised housing finance into a viable business proposition for banks. The upward revision of property valuation for levying advance and capital gains tax in upwards of 20 major cities may bring down soaring real estate...
ISLAMABAD: After receiving complaints from the citizens about malpractices and delays, the city managers have introduced a new standard operating procedure (SOP) to ensure a hassle-free transfer of residential property in the capital. The new SOP has been formulated mainly focusing on the swift issuance of No Demand Certificate (NDC),...
ISLAMABAD: Lack of policy and regulatory framework has led to the mushroom growth of real estate projects across the country, the Competition Commission of Pakistan (CCP) observed in its report. “The existing legal framework has failed to maintain a vigilant and a system of proper check and balance in...
ISLAMABAD: Prime Minister Imran Khan was informed at a meeting on Wednesday that over 40 bidders and construction companies had applied for providing land and constructing housing units under the Naya Pakistan Housing Programme (NPHP) of the federal government. Briefing the meeting on the progress of the programme, Housing and...
ISLAMABAD: The Task Force on five million housing units in its maiden session on Monday estimated that total financing requirement for construction of housing stands at around Rs16 trillion during next five-year period. Out of total cost of Rs16 trillion, 20 percent will be borne by the applicant/owner while remaining...
ISLAMABAD:  National Accountability Bureau (NAB) Chairman Justice (retd) Javed Iqbal on Tuesday directed strict action against housing societies and cooperative housing societies that failed to hand over plots despite receiving payments. The directives came during a meeting presided over by the NAB chairman at NAB Lahore. Also Read: NAB vows to protect interests...

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crisis bank financing

Financing of external payments

The outstanding external debt of Pakistan crossed the century mark early this year. It stands as of the end of March 2019 at $105.8...