Govt facilitating affordable housing schemes: PM Shehbaz

ISLAMABAD: Prime Minister (PM) Shehbaz Sharif on Wednesday said that it is one of the government top priorities to facilitate low-cost housing schemes.

The prime minister passed these remarks while chairing a review meeting of the Task Force on housing sector development for low-cost housing projects chaired. PM Shehbaz said the affordable housing projects would not only make residential units accessible to the common man but would also boost the national economy and create employment opportunities.

The prime minister further directed that the task force, in collaboration with the Ministry of Finance and banks, should soon submit recommendations for financing low-cost housing projects, which should be included in the upcoming budget proposals.

PM Shehbaz said that the sustainable growth of the national economy was closely linked with the development of the construction sector.

Federal Minister for Planning and Development Ahsan Iqbal, Finance Minister Muhammad Aurangzeb, Riaz Hussain Pirzada, Ahad Khan Cheema, Ali Pervaiz Malik, FBR Chairman, and other senior officials attended the meeting, PM Office Media Wing said in a press release.

The prime minister was briefed on the progress of the government’s initiatives related to low-cost housing.

The meeting was informed that the Condominium Act 2025 and amendments to the Foreclosure Law were in their final stages and after approval, the said legislation would make it easier to obtain loans for the construction and ownership of homes under low-cost housing schemes.

The task force also briefed the meeting on the progress made so far regarding the initiation of construction projects, particularly low-cost housing schemes.