Islamabad: Prime Minister (PM) Imran Khan on Thursday instructed the authorities concerned to establish a real estate regulatory body in the country, according to a news source. He issued these directives while presiding over a meeting of the National Coordination Committee of Housing, Construction and Development.
During this meeting, the PM also instructed the provincial chief secretaries to submit a roadmap for one-window facilities and online approvals for permits within one week. This roadmap will also include processes for fee payment and the operations of all departments related to the housing sector.
The government aims to improve these processes so that all stakeholders, such as the Association of Builders and Developers (ABAD) and real estate tycoons, are on the same page. This real estate regulatory body will also take feedback from these stakeholders in account.
The PM further emphasized the need to integrate technology in real estate procedures to streamline the industry at all levels. He also directed the State Bank and Finance Ministry to hand over the construction industry subsidy to banks on a priority basis.