The government is planning to establish a Real Estate Regulatory Authority (RERA) to bring oversight to Pakistan’s largely unregulated property sector, as Prime Minister Shehbaz Sharif on Wednesday instructed officials to fast-track reforms aimed at improving access to affordable housing.
The directive came during a meeting on the affairs of the Federal Ministry of Housing and Works, held at the Prime Minister’s House in Islamabad, according to an official statement.
Officials informed the meeting that a roadmap is being developed for constructing homes for low-income groups through public-private partnerships. As part of these reforms, RERA will be introduced to regulate conduct within the real estate and housing sectors.
Addressing participants, the prime minister emphasized that housing for low-income citizens, promoting affordable housing projects, encouraging private sector involvement, and improving public amenities remain key government priorities.
He also directed authorities to take practical steps to expand housing finance options for the general public.
The meeting included a briefing on the ministry’s broader strategic roadmap, highlighting ongoing reforms in the construction sector’s tax framework. Consultations between the Federal Board of Revenue (FBR) and provincial governments on tax standardisation are in progress, along with discussions on proposed mortgage reforms.
On housing finance, the Ministry of Finance, FBR, the Securities and Exchange Commission of Pakistan, and provincial housing departments are jointly working on real estate investment trusts.
The meeting was attended by several federal ministers, including Azam Nazir Tarar, Ahsan Iqbal Cheema, Muhammad Aurangzeb, Riaz Pirzada, Shaza Fatima Khawaja, Rana Sanaullah, and Bilal Azhar Kayani, among others.
