The federal government has confirmed that the popular ‘Mera Pakistan Mera Ghar’ (MPMG) Scheme, launched by former Prime Minister Imran Khan, has been suspended.
The Ministry of Finance has announced that the MPMG low-cost housing scheme has been temporarily suspended. A statement from the Finance Division stated that they are currently working on reshaping the scheme and it will be rolled out within a week.
Meanwhile, it is assured that the investments already made by the general public through the scheme remain protected.
The previous administration had devised the MPMG scheme to provide low-cost residences for those on a low income. The loans were being given out at reduced rates.
Applications totalling Rs473.7 billion have been submitted under the MPMG scheme since its launch in 2020. The scheme provides low-cost housing loans of up to Rs10 million with a mark-up of 3-9% for the first ten years, after which market rates apply.