Islamabad: The Federal Ministry of Housing and Works on Wednesday briefed Prime Minister Shehbaz Sharif on proposed reforms to the construction sector’s tax structure, aimed at improving transparency and standardising practices across the industry.
Officials told the Prime Minister that consultations between the Federal Board of Revenue (FBR) and provincial authorities are ongoing to create a uniform taxation framework for the construction sector. The reforms form part of the ministry’s broader strategic roadmap to modernise the housing and construction industry.
The proposed measures include standardising taxes, facilitating real estate financing, and supporting affordable housing projects, particularly for low-income groups. Government officials highlighted that a comprehensive regulatory framework, including the possible establishment of a Real Estate Regulatory Authority and Real Estate Investment Trusts (REITs), is being considered to improve governance and oversight in the sector.
Prime Minister Shehbaz Sharif stressed that making housing finance accessible and strengthening industry regulations are key priorities for his government. He urged all relevant authorities to expedite consultations and ensure the proposed reforms are effectively implemented to benefit both developers and homebuyers.
Officials said the tax reforms are intended to enhance financial governance, promote investment in the housing sector, and ensure sustainable development of housing projects nationwide.
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