ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday reiterated the government’s commitment to promoting low-cost housing as a key economic priority, emphasizing its potential to support affordable living, stimulate the construction sector, and generate employment.
Chairing a review meeting of the Task Force on Housing Sector Development for low-cost housing projects, the prime minister directed the task force to work with the Ministry of Finance and commercial banks to develop concrete recommendations for financing these initiatives. He instructed that these proposals be included in the upcoming federal budget.
Sharif said the development of the construction sector is closely tied to the country’s economic growth and stressed the importance of accessible housing for the general public.
The meeting was attended by Ministers Ahsan Iqbal, Riaz Hussain Pirzada, Ahad Khan Cheema, Muhammad Aurangzeb, Ali Pervaiz Malik, the FBR Chairman, and other senior officials, according to a statement from the Prime Minister’s Office.
The prime minister was briefed on the status of government-led affordable housing initiatives. Officials informed the meeting that the Condominium Act 2025 and proposed amendments to the Foreclosure Law are in their final stages. Once enacted, the legislation is expected to simplify the process of securing loans for home construction and ownership under low-cost housing schemes.
The task force also presented updates on progress made in launching construction projects aimed at expanding low-cost housing across the country.
