Tag: SBP

The federal government has launched a massive, zero-markup scheme to finance 116,000 e-bikes and 3,170 e-rickshaws for FY26. The plan offers substantial capital subsidies (up to Rs. 50,000 for bikes and Rs. 200,000 for rickshaws) and waives all markup costs, with 25% of bikes specifically allocated to women.

The government has launched ‘Mera Ghar – Mera Ashiana,’ a new housing scheme offering 20-year home loans with heavily subsidized, fixed rates. Loans up to Rs2 million are available at just 5% for the first 10 years, and loans up to Rs3.5 million at 8%. The program is open to all non-homeowners and covers houses up to five marla.

The State Bank of Pakistan (SBP) has mandated a two-day maximum turnaround time for new bank account openings and pushed for widespread digital payment acceptance. This bold move aims to significantly boost financial inclusion and enhance customer experience across Pakistan, building on recent successes that saw the country’s financial inclusion rate reach 60% in 2023. Banks are now required to simplify processes, offer digital account opening, and ensure merchants are equipped with digital payment solutions like Raast QR and POS terminals.