In line with its vision of providing affordable housing to the masses, the government will be providing a markup subsidy facility for the construction and purchase of new houses. Banks will charge maximum markup rate of KIBOR plus 250 basis points. However, the GOP will provide markup subsidy to reduce borrowers’ rate to 5pc for first five years and 7pc for next five years. Banks will charge maximum markup rate of KIBOR plus 400 basis points. However, GOP will provide markup subsidy to reduce borrowers’ rate to 7pc for first five years and 9pc for next five years.

Source: Pakistan Today October 12, 2020 18:12 UTC