Non-Resident Pakistanis can now own a house as per the State Bank of Pakistan.
Islamabad: Prime Minister Imran Khan announced the “Roshan Apna Ghar” scheme to attract overseas Pakistanis to invest in the country by purchasing a house.
While celebrating the $1 billion mark in the Roshan Digital Accounts, PM Imran Khan launched the Roshan Apna Ghar scheme for the “biggest asset of Pakistan”, the overseas Pakistanis.
During the launch, Prime Minister Imran Khan mentioned that the potential of the biggest asset of the country has not been fully utilized yet, and the country can benefit not only from the investments of the non-resident Pakistanis, but also from their technical skills, professionalism and expertise.
The Prime Minister emphasized on creating an environment that will attract the overseas countrymen to return to their homeland.
Similar to the Mera Ghar Mera Pakistan scheme, this scheme allows individuals to obtain financing for a house in Pakistan, with a slight difference, that this scheme is only applicable for the overseas Pakistanis.
Roshan Apna Ghar provides several financing solutions to Non-Residents Pakistanis, such as the Naya Pakistan Certificate for investment, Roshan Samaji Khidmat for donation to charities and Roshan Apni Car to allow them to take automotive loans.
In a statement by the State Bank of Pakistan, the scheme was termed as a new lifestyle banking product, it allows the applicant to apply for a house financing loan from their homes remotely.
Adding to the statement, the SBP representative mentioned that the applicant can choose from the bank’s pre-approved projects or any other property. SBP further added “The tax regime is simple and final. In case of sale of property, the principal amount invested can be remitted abroad without needing any permission”.
As per the State Bank of Pakistan, the profit rates are attractive and the loan process will be available in Shariah-compliant version as well as the conventional version.
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