National January 23, 2021 KARACHI: The State Bank of Pakistan has announced a mark-up subsidy for the federal government's housing finance scheme to provide subsidised financing to low and middle-income individuals. "In line with [the] government’s vision of making housing finance affordable, SBP has announced Government’s Mark-up Subsidy for Housing Finance scheme to provide subsidised financing to low and middle-income individuals," it said on Friday. To this effect, the central bank has launched a complaint resolution mechanism to promote the affordable housing scheme. It said the mechanism comprises an information technology-based portal and a network of SBP and commercial bank staff to resolve issues being faced by applicants for low-cost and affordable housing finance. 1. Housing plays an importantrole in economic development by contributing to GDP growth, employment generation and social well-being. Further, more than 40 industries and 70% of unskilled labor are linked with housing and constructionsector. 2. In order to provide formal financial services at affordable rates, Government of Pakistan is providing Markup Subsidy for Housing Finance.