House Building Finance Company Limited (HBFCL), (Urdu: ہاؤس بلڈنگ فنانس کمپنی لمیٹڈ) formerly known as House Building Finance Corporation (HBFC), is a Pakistani housing finance company which is a subsidiary of State Bank of Pakistan. Founded in 1952, it is based in Karachi, Pakistan.[1][2]
 | |
| Formerly | House Building Finance Corporation |
|---|---|
| Company type | Government |
| Industry | Financial services |
| Founded | 1951 |
| Headquarters | , |
Number of locations | 51 |
Key people | Imran Ahad (MD) |
| Products | |
| Revenue |  Rs. 2,424,288,000 (2021) |
| Rs. (1,520,051,000) (2021) | |
| Rs. 986,154,000 (2021) | |
| Total assets | Rs. 22,449,515,000 (2021) |
| Parent | State Bank of Pakistan |
| Website | hbfc |
History
editHouse Building Finance Company was founded in 1951. Before the independence of East Pakistan, it was headquartered in Dacca.[3] It was incorporated as a corporation on 25 July 2007 and is jointly owned by the State Bank of Pakistan (90.31 percent) and Government of Pakistan (9.69 percent).[2] On 18 February 2011, the name of House Building Finance Corporation was changed to House Building Finance Company Limited under section 39 of the Companies Ordinance 1984.[2]
The company is now an unlisted public limited company.[2] The company has 51 branches, 7 area offices, 3 regional offices, and head office based in Karachi.[2]
Privatization
editThe Cabinet Committee on Privatisation (CCoP) approved transaction structures for the privatization of House Building Finance Company Ltd.[4]
Products and services
editGhar Pakistan Scheme - GPS
editHousing financing for midlevel income persons.
Ghar Pakistan Plus Scheme - GPS Plus
editSpecial scheme for construction of house with Higher income persons.
Ghar Sahulat Scheme - GSS
editThe scheme is used for house purchasing or construction.
HBFC Khaas
editSpecial Scheme for Widows, Children of Martyrs of special forces, special persons, Transgenders.
Mera Pakistan Mera Ghar Scheme
editGovernment's Markup subsidise scheme.
Ghar Ujala Scheme
editHome solar system scheme from 3KW to 20KW up to 10 years.
References
edit- ^ "HBFC has become bankrupt on account of low recovery of loans: minister". www.thenews.com.pk.
- ^ a b c d e "House Building Finance Company". www.hbfc.com.pk. Retrieved 2020-07-23.
- ^ AKHTAR, S. M. (1964). "The Problem of Regional Disparities in Economic Development: WITH SPECIAL REFERENCE TO PAKISTAN". The Punjab University Economist. 4 (7): 19–28 – via JSTOR.
- ^ Paracha, Shahzad (2020-08-21). "CCoP approves 7pc divestment in OGDC,10pc in PPL shares". Profit by Pakistan Today. Retrieved 2020-09-11.
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