PM orders fast-track housing reforms, plans real estate regulator

Prime Minister Shehbaz Sharif on Wednesday directed authorities to accelerate housing sector reforms, including expanding access to finance and scaling up construction for low-income groups.

At a meeting reviewing the Ministry of Housing and Works, officials said a roadmap is being prepared to deliver affordable housing through public-private partnerships, with a focus on widening access for underserved segments.

The government is also set to establish a Real Estate Regulatory Authority (RERA) to regulate the largely unstructured property sector and introduce formal codes of conduct.

Sharif said affordable housing, increased private sector participation and improved public facilities remain key policy priorities, and called for practical steps to ensure housing finance is accessible to the general public.

Officials briefed the meeting on parallel reforms in the construction and housing ecosystem. Consultations between the Federal Board of Revenue and provincial governments are ongoing to standardise taxes in the sector, while draft proposals for mortgage reforms are also under discussion.

Work is also underway on real estate investment frameworks, with the Ministry of Finance, the FBR, the Securities and Exchange Commission of Pakistan and provincial housing authorities collaborating on real estate investment trusts to support financing.

The meeting, held at the Prime Minister’s House in Islamabad, was attended by key cabinet members including Law Minister Azam Nazir Tarar, Finance Minister Muhammad Aurangzeb, Housing Minister Riaz Pirzada, Economic Affairs Minister Ahad Khan Cheema, IT Minister Shaza Fatima, Adviser Rana Sanaullah and Minister of State Bilal Azhar Kiani.