PM Orders Swift Measures to Expand Housing Loans for Low-Income Groups

KARACHI: Prime Minister Shehbaz Sharif on Wednesday directed authorities to take immediate and practical steps to ensure wider access to housing finance for the common citizen, emphasizing affordable housing as a top government priority.
Chairing a high-level meeting at the Prime Minister’s House on matters related to the Ministry of Housing and Works, the Prime Minister stressed that facilitating home ownership for low-income groups, promoting affordable housing schemes, encouraging private sector participation, and improving public amenities were central to the government’s agenda.
During the meeting, officials presented a strategic roadmap for the housing sector, highlighting ongoing reforms aimed at making the construction industry more viable. It was informed that consultations between the Federal Board of Revenue (FBR) and provincial governments are underway to standardize taxes for the construction sector, while draft reforms related to housing mortgages are also under discussion.
The meeting was further briefed that a framework is being developed for the construction of low-cost housing under Public-Private Partnership (PPP) arrangements, aimed at accelerating housing supply and ensuring affordability.
In a significant move to regulate the sector, it was announced that a Real Estate Regulatory Authority will be established to oversee real estate and housing activities,ensuring transparency and protecting consumer interests.
Officials also informed the Prime Minister that coordinated efforts are underway among the Ministry of Finance, FBR, the Securities and Exchange Commission of Pakistan (SECP), and provincial governments to promote Real Estate Investment Trusts (REITs) as a viable financing mechanism for large-scale housing development.
Prime Minister Shehbaz Sharif directed all relevant institutions to ensure effective coordination and expedite implementation, stressing that timely delivery and practical outcomes are essential to address the housing needs of the public.
The meeting was attended by Minister for Law and Justice Azam Nazeer Tarar, Minister for Economic Affairs Ahad Khan Cheema, Minister for Finance and Revenue Muhammad Aurangzeb, Minister for Housing and Works Riaz Pirzada, Minister for IT and Telecommunication Shaza Fatima, Adviser to the Prime Minister on Inter-Provincial Coordination Rana Sanaullah, Minister of State for Finance and Railways Bilal Azhar Kayani, along with senior government officials.