Islamabad: Prime Minister Shehbaz Sharif has directed the relevant authorities to formulate a workable strategy to further promote investment in the construction and housing sectors. He was chairing a review meeting in Islamabad today regarding the implementation of steps to increase investment in these sectors. The Prime Minister emphasized that providing loans on easy terms is a top priority for the government, asserting that owning a home is a fundamental right for every citizen.
According to Radio Pakistan, Shehbaz Sharif instructed the inclusion of Azad Kashmir, Gilgit-Baltistan, provincial governments, and all public and private sector stakeholders in formulating the strategy. Highlighting the vast investment potential within the domestic housing sector, he assured that obstacles hindering investment will be addressed to fully capitalize on the sector's opportunities. Furthermore, he emphasized that the government will ensure the protection of investments made by foreign investors and overseas Pakistanis in the housing sector.
Shehbaz Sharif stated that promoting investment in the construction sector will not only bolster the economy but also generate millions of job opportunities. During the meeting, participants were briefed on proposals by the Task Force on Construction and Housing Sectors and related working groups. Detailed information was provided regarding the progress on implementing the approved measures.
The meeting was informed that, following the Prime Minister's directives, special measures are being taken to attract investment in the construction and housing sectors from foreign investors and overseas Pakistanis. It was highlighted that these measures would enhance residential construction projects, stimulate economic activities, and create employment opportunities.
Additionally, a low-cost loan system has been implemented for low-cost housing projects, with targets to be assigned to banks in the next phase. Efforts are underway to develop a comprehensive ecosystem for mortgage finance in the country. The meeting also discussed the formation of a developer-led financing system for the residential construction sector.
The Prime Minister directed the authorities to finalize comprehensive measures for the development of the residential construction sector and ensure their prompt implementation.