Prime Minister Shehbaz Sharif has emphasized that the development of the construction sector is vital for Pakistan’s sustainable economic growth. He also directed that financing recommendations for low-cost housing projects should be included in the upcoming federal budget proposals.
According to a statement from the Prime Minister’s Office, Shehbaz Sharif chaired a review meeting of the task force set up for low-cost housing projects. During the meeting, officials briefed the Prime Minister on the government’s progress in supporting affordable housing initiatives.
Participants were informed that amendments to the Condominium Act 2025 and Foreclosure Law are in the final stages. Once approved, these changes will make it easier for citizens to obtain loans for home ownership under low-cost housing schemes.
The task force also updated the meeting on the steps taken so far to initiate construction activities, particularly for affordable residential projects. Senior ministers, including Ahsan Iqbal, Riaz Hussain Pirzada, Ahad Cheema, Muhammad Aurangzeb, and Ali Pervaiz Malik, along with the FBR chairman and other top officials, attended the session.
Addressing the participants, Prime Minister Sharif said making housing accessible for the common man is a top priority for his government. He added that such initiatives will not only help people own homes but also stimulate economic growth and create job opportunities. He instructed the task force to coordinate with the finance ministry and banks to quickly present financing strategies for these projects.
He concluded by reiterating that the growth of the construction sector plays a pivotal role in ensuring long-term economic development in Pakistan.