Islamabad: Prime Minister Shehbaz Sharif on Wednesday directed the relevant authorities to expedite efforts to secure financing for low-cost housing schemes, terming affordable homeownership a national priority and a vital tool for economic uplift.
Chairing a meeting of the taskforce on housing sector development, the premier said that low-cost housing projects would not only make homes more accessible for ordinary citizens but also play a key role in boosting economic activity and generating employment.
He urged the taskforce to collaborate closely with the Ministry of Finance and commercial banks to propose a viable financing model. The recommendations will be considered for inclusion in the upcoming federal budget.
The prime minister highlighted the importance of the construction sector in driving sustainable economic growth and noted that expanding access to affordable housing would have a multiplier effect across various industries.
During the meeting, officials briefed the premier on the status of ongoing housing initiatives. It was revealed that the Condominium Act 2025 and amendments to the Foreclosure Law are nearing final approval. These legal reforms are expected to streamline access to loans and simplify the process of homeownership, particularly under government-supported low-cost housing schemes.
The taskforce also presented updates on the progress of several under-construction housing projects and plans for launching new schemes across the country.
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