Islamabad: The government is advancing legal and financial reforms in the housing sector aimed at attracting investment, expanding access to housing finance, and generating employment, Prime Minister Shehbaz Sharif was informed during a high-level review meeting on Thursday.
According to a statement issued by the Prime Minister’s Office, work on legal reforms in the housing sector is in its final stages, while efforts to develop a comprehensive mortgage financing ecosystem are underway. The initiatives are part of a broader strategy to promote construction activity and improve access to housing, particularly for low-income groups.
During the meeting, the prime minister was briefed on progress related to housing finance reforms, including the introduction of a low-cost loan system for affordable housing projects. Officials informed the meeting that banks will be assigned targets in the next phase to expand housing finance and improve accessibility.
The premier had earlier directed authorities to prioritise housing finance for ordinary citizens, stressing the need to make home ownership more accessible. “A home is the right of every citizen,” he said, reiterating the government’s commitment to facilitating affordable housing.
The meeting was also informed that steps are being taken to attract investment in the construction and housing sector, particularly from foreign investors and overseas Pakistanis. Officials noted that these measures are expected to increase housing projects, stimulate economic activity, and create employment opportunities across related industries.
In addition, work is ongoing on a developer-led financing model to further support housing initiatives and ease funding constraints within the sector.
Prime Minister Shehbaz directed relevant authorities to finalise the proposed reforms and ensure their timely implementation in consultation with all stakeholders. He also assured that the government would ensure protection for foreign investment in the housing sector.
The government views the construction industry as a key driver of economic growth, with the potential to create large-scale employment while addressing the country’s housing shortage.
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