Dawn
int · 55 mins ago
AI scored
Govt mulls allowing commercial banks to take over mortgaged houses 90 days after default
75Accuracy
centreBias
0Ratings
💬 0Comments
AI Analysis
Accuracy 75/100
Partisan intensity 25/100
ObjectivePartisan
Centre / Neutral ✓ Fair headline
Pakistan's government is considering legislation to allow commercial banks to foreclose on mortgaged properties after a 90-day default notice period, intended to stimulate lending in the housing sector.
Govt mulls allowing commercial banks to take over mortgaged houses 90 days after default
ISLAMABAD: The government decided in principle to grant commercial banks significant powers to take over mortgaged houses in case of default after a cumulative notice period of 90 days, in a move aimed at encouraging lending to the housing sector.
The proposed foreclosure law to amend “The Financial Institutions (Recovery of Finances) Ordinance, 2001”, currently under review by the National Assembly’s Standing Committee on Finance and Revenue, provides that where a customer defaults on payment o
Discussion 0 comments
Sort:
?
No comments yet — be the first to start the discussion!