House Building Finance Company
 | |
| 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 |
House Building Finance Company Limited (HBFCL), 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]
History
[edit]House 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
[edit]The Cabinet Committee on Privatisation (CCoP) approved transaction structures for the privatization of House Building Finance Company Ltd.[4]
Products and services
[edit]- Ghar Pakistan Scheme (GPS), a housing financing scheme for midlevel income persons
- Ghar Pakistan Plus Scheme (GPS Plus), a special scheme for construction of house with higher income persons
- Ghar Sahulat Scheme (GSS), a scheme is used for house purchasing or construction.
- HBFC Khaas, a special scheme for widows, children of martyrs of special forces, special persons, transgenders
- Mera Pakistan Mera Ghar Scheme, a government's markup subsidise scheme.
- Ghar Ujala Scheme, a home 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.
- ^ 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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