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Corp disburses Rs4.5bn loans, recovers Rs6.3bn
ISLAMABAD: The financial position of the House Building Finance Corporation Limited (HBFCL) has significantly improved, resulting in greater stability of the corporation.
According to press release issued Saturday, HBFCL has disbursed loans of Rs4556 million in the housing sector during the tenure of current government, with an average loan of Rs600,000.
The total recoveries during this period were recorded at Rs6300 million, the HBFCL statement added.
The statement said that the four pieces of land owned by the Corporation, including two in Lahore and one each in Islamabad and Hyderabad, are being developed now for which it had to pay huge amounts as non-development charges.
"The government has taken serious initiatives to utilise these open plots," the statement said, adding action was underway to construct buildings over these un-utilised open plots which will bring additional resources to HBFCL. In addition, the management has also taken a number of new initiatives to improve the overall working and profitability of HBFCL. -APP
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