House Building Finance Company

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

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

The Cabinet Committee on Privatisation (CCoP) approved transaction structures for the privatization of House Building Finance Company Ltd.[4]

Products and services

• 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.
• Ghar Ujala Scheme, a home solar system scheme from 3KW to 20KW up to 05 years.
• Ghar Ujala Scheme, a home solar system scheme from 3KW to 20KW up to 10 years.