PM Shehbaz Sharif directs steps to expand access to housing loans

 Islamabad: Prime Minister Shehbaz Sharif has directed authorities to take immediate steps to improve access to housing finance for the public, as part of efforts to promote affordable housing in Pakistan. The directive was issued during a meeting on the Federal Ministry of Housing and Works held at the Prime Minister’s House.

The move aims to support low-income groups by expanding housing loan access, encouraging private sector participation, and improving public facilities. Officials said the initiative is part of a broader strategy to address housing shortages and strengthen the construction sector.

Focus on affordable housing and reforms

During the meeting, the prime minister said providing housing to low-income segments remains a key government priority. He emphasised the need to promote affordable housing projects and create an enabling environment for private investment.

Officials briefed the meeting on a strategic roadmap, including reforms to the tax structure related to the construction sector. Consultations between the Federal Board of Revenue and provincial governments are ongoing to standardise taxes and introduce changes to housing mortgage systems.

New regulatory framework under consideration

Authorities said a framework is being developed for constructing housing units for low-income groups under public-private partnerships (PPP). Plans are also underway to establish a Real Estate Regulatory Authority to oversee the sector and improve transparency.

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The meeting was informed that multiple institutions, including the Ministry of Finance, the Securities and Exchange Commission of Pakistan, and provincial governments, are working together on Real Estate Investment Trusts (REITs) to strengthen housing finance mechanisms.

Multi-agency coordination

Senior cabinet members and officials attended the meeting, including Azam Nazeer Tarar, Ahad Khan Cheema, Muhammad Aurangzeb, Riaz Pirzada, and Shaza Fatima.

The government says the coordinated approach is aimed at improving housing access, boosting construction activity, and addressing long-term urban development challenges.