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| IH&SMEFD
Circular Letter No. 04 of 2022 |
February 24, 2022 |
The Presidents/ Chief Executives
All Banks/DFIs,
Dear Sir(s)/ Madam(s),
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Mandatory Targets for Housing and Construction Finance
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Please refer to IH&SMEFD Circular No. 04 dated April 01, 2021 and IH&SMEFD Circular No. 13 dated December 01, 2021 on the captioned subject.
2. In addition to the exposures allowed vide above mentioned Circular(s), State Bank has decided to allow counting of following exposure of banks towards achievement of their housing & construction finance mandatory targets:
- Wholesale lending of banks to microfinance providers and housing finance companies for onward financing under Naya Pakistan Low Cost Housing (NPLCH), one of the three component of Kamyab Pakistan Program (KPP), issued vide IH&SMEFD Circular No. 11 dated October 04, 2021.
3. All other instructions on the subject shall remain unchanged.
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Sincerely yours,
(Dr Mian Farooq Haq)
Director
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