Gujranwala: According to a recent news report the Chief Executive Officer (CEO) of the Bank of Punjab (BOP), Mr. Zafar Masud, inaugurated a low-cost housing project Eminabad town of Gujranwala, the bank shared through a press release.
This is a first-of-its-kind private sector collaboration, entitled the Economy Housing Scheme-Garden Squares, which aims to provide state-of-the-art housing through home financing solutions to the low-income segment.
Masud, speaking on the occasion, claimed that it is a groundbreaking project through which the Bank of Punjab is making realistic efforts to fulfil the dream of affordable housing of Prime Minister Imran Khan.
Providing the program data, he added that the Bank of Punjab had lowered the mark-up rate for the project under a special package to promote the low-income segment. The markup will be close to what is given under the Naya Pakistan Housing Program, where the mark-up rate will be 5% for a five-marla house for the first five years; it will be 7% for the next five years, and it will be according to the market rate after ten years.
Underground electrification, sewerage, industrial areas, schools, health services, green areas and international quality infrastructure will be included in the project and housing will be delivered by August 2021.
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