ISLAMABAD: Prime Minister Shehbaz Sharif has reaffirmed his commitment to ensuring that low-income citizens are provided with affordable housing facilities, stating that such projects are a priority for the government, and directed the authorities to speed up the process of housing sector reforms.
This was decided in an important meeting held under the chairmanship of Prime Minister Shehbaz Sharif, in which matters related to the Ministry of Housing and Works were discussed, including the development of facilities for low-income citizens.
“Affordable housing projects, incentives for the private sector, and better public services are among the government’s foremost priorities,” said the Prime Minister in his address. He also directed the authorities to take practical steps in this regard, ensuring that housing finance facilities are made available to the common citizen in an efficient manner.
In the meeting, it was briefed that the strategic roadmap for the ministry includes reforms in the tax structure of the construction sector, ongoing coordination between the Federal Board of Revenue and the provinces, drafting regulations for housing mortgages, and the development of housing facilities for low-income citizens through public-private partnerships.
The meeting also considered the proposed establishment of a Real Estate Regulatory Authority to regulate and organize the housing and real estate sectors. Collaboration between the Ministry of Housing, Finance, FBR, and provincial authorities is underway to promote house finance through Real Estate Investment Trusts.
Federal ministers including Muhammad Aurangzeb, Azam Nazir Tarar, Ahad Cheema, and Shiza Fatima attended the meeting.
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