House Building Finance Company Limited (HBFC
) is the prime housing finance institution of the country, providing affordable housing solutions to low and low-middle income groups of population by encouraging new construction in affordable housing sector.
The audit pointed out that there was irregular investment of Rs10 million in a private bank and non-recovery of profit of Rs4.278 million by House Building Finance Corporation (HBFC
The House Building Finance Corporation (HBFC
) is no longer a commercially viable entity owing to high ratio of 71 percent non-performing loans (NPLs) and massive 46 percent increase in operating expenses, it is learnt.
The hearing heard Cllr Sergeant failed to declare he was then vice chair at HBFC
during two parish council meetings to discuss Leylandii trees that had been felled at the club's sports ground, in March 2003.
Since the NPHP is planned for the low-income families, the government has also made financing possible through the House Building Finance Company (HBFC
), Bank of Punjab (BoP) and Meezan Bank.
Through this corporate arrangement, HBFC
will facilitate the employees of Namal Institute to avail housing finance facility across Pakistan on preferential terms and conditions.
The masses would be provided homes on easy installments and in this regard consultations were under way with the Bank of Punjab (BoP), Meezan Bank and House Building Finance Corporation (HBFC
The issue of delisting of House Building Finance Corporation Ltd (HBFC
) from the privatisation agenda was also recommended to be presented in the next meeting.
Talking to reporter, Branch Managers HBFC
Peshawar and Mardan, Shams-ur-Rehman and Nasrullah Jan disclosed that under the scheme government employees and other individuals having monthly income upto Rs.0.1 million would be given a housing loan upto Rs.2.5 million or for construction of house on ten marla land or purchase of readymade house.
The government had removed SME Bank President Ihsanul Haq Khan, First Women Bank President Tahira Raza, Zarai Tarakiati Bank Limited (ZTBL) President Syed Talat Mahmood and House Building Finance Corporation (HBFC
) Managing Director Syed Basit Aly.
ISLAMABAD -- Nepotism is on its peak in House Building Finance Corporation(HBFC
) as MD appointed his close relative on important position on contract and doled out millions of rupees on him against the rules .
We have House Building Finance Corporation (HBFC
) where, due to rampant corruption, about 25% of the loan went back to dishonest officials while those who obtained loans were caught in the vicious cycle of debt.