PM Shehbaz directs practical steps to effectively deliver house finance facility to low-income citizens

Islamabad (Web Desk): Prime Minister Shehbaz Sharif on Wednesday directed concrete measures to ensure that housing finance reaches the general public efficiently.

He said this while chairing a meeting in Islamabad focused on the Ministry of Housing and Works.

The prime minister stressed that delivering homes to low-income families, developing affordable housing initiatives, promoting private sector involvement, and enhancing public services remain key priorities for the government.

During the meeting, participants were briefed on the Ministry of Housing and Works’ strategic plan. 
Officials reported that the construction sector’s tax system is being reformed, with ongoing discussions between the Federal Board of Revenue (FBR) and provincial authorities aimed at harmonizing taxation policies.

The meeting was also briefed that a policy framework is being formulated to construct homes for low-income groups through public-private partnerships.

Plans are underway to set up a Real Estate Regulatory Authority to oversee the rules and standards governing the housing and real estate sectors.

Regarding housing finance, officials noted that the Ministry of Housing is collaborating with the Ministry of Finance, the Securities and Exchange Commission of Pakistan (SECP) and provincial governments to advance the Real Estate Investment Trust initiative.