Prime Minister Shehbaz Sharif on Thursday directed authorities to formulate and implement a practical strategy to promote investment in Pakistan’s construction and housing sector.
Chairing a high-level meeting, the prime minister emphasized the need to involve all stakeholders—including provincial governments, as well as authorities in Azad Jammu and Kashmir and Gilgit-Baltistan—in efforts to expand low-cost housing and create employment opportunities.
“Homeownership is a fundamental right of every citizen. Providing loans on easy terms for housing remains a top government priority,” he said, adding that obstacles to investment would be removed to fully tap the sector’s potential.
The prime minister assured that investments by foreign investors and overseas Pakistanis in the housing sector would be fully protected. He highlighted that promoting construction and housing investment would drive economic growth and generate millions of jobs.
During the meeting, officials presented proposals from the task force and working groups, and updated participants on the implementation of previously approved measures. Special initiatives are being introduced to facilitate investment by foreign investors and overseas Pakistanis, expected to boost residential construction and stimulate economic activity.Officials also briefed the prime minister on ongoing legal reforms in the sector, which are in the final stages, and on initiatives to develop a complete mortgage finance ecosystem. A comprehensive developer-led financing system for housing construction is also being prepared.
“A system for low-cost loans for affordable housing projects has been implemented; in the next phase, banks will be assigned targets in this regard,” officials said.
The meeting was attended by Federal Ministers Azam Nazeer Tarar, Ahad Khan Cheema, Muhammad Aurangzeb, Mian Riaz Hussain Pirzada, Minister of State Bilal Azhar Kayani, Attorney General Mansoor Awan, State Bank Governor Jameel Ahmad, chief secretaries of all provinces, Gilgit-Baltistan, Azad Jammu & Kashmir, private sector experts, and other senior officials.
