Rawalpindi: An important consultative session was organized by State Bank of Pakistan, Rawalpindi, on Thursday to promote the ‘Prime Minister’s Housing Program titled “Ghar Ho Tou Apna, Apna Ghar Programme”.
The session was held to address the challenges being faced in its implementation.
It was attended by a large number of representatives from 25 commercial banks, officials from the Rawalpindi Development Authority (RDA), a delegation from the Rawalpindi Chamber of Commerce and Industry (RCCI), general public, students from various universities, and representatives from 34 housing societies.
The session was chaired by Mr Rizwan Khaleel Shamsi, Chief Manager, State Bank Rawalpindi.
In his opening remarks, he appreciated the active role played by banks in promoting and facilitating the scheme, advising developers and housing societies to promote vertical housing (high-rise buildings) as a sustainable and affordable solution for housing.
He further observed that over the past few years, forests and green belts in cities had been converted into housing societies, leading to significant environmental challenges, emphasizing that vertical urbanization is the most suitable solution to address environmental concerns while also providing low-cost housing.
The Chief Manager also shared successful low-cost housing models being implemented in various economies and stressed that these effective policies could be adapted to meet local requirements.
During the session, commercial banks raised issues related to documentation and discussed them in detail, while housing societies were given awareness briefings by banks on the features of the scheme to enable them to disseminate the information among their customers.
Banks recommended the introduction of a one-window operation for documentation at RDA to simplify and expedite the process, also calling for the appointment of designated focal persons from revenue authorities and RDA to ensure smooth processing.
The forum also featured open discussions on issues related to mortgage and lien marking, where all stakeholders shared their challenges and recommendations.
On this occasion, Sr. Deputy Chief Manager, Umar Siddique Khattak, announced that high-level events would be held in the near future, and also proposed the formation of a working group comprising all stakeholders to address the challenges and formulate recommendations for the promotion of affordable housing in Pakistan.
Participants affirmed their commitment to making Rawalpindi a model city for low-cost housing across the country, concluding the session with all participants thanking State Bank Rawalpindi for organizing the comprehensive consultative session and terming it a great success.