The government is preparing to boost housing finance by setting lending targets for banks and expediting legal reforms, as Prime Minister Shehbaz Sharif aims to draw foreign and overseas investment into Pakistan’s construction sector.
The prime minister chaired a review meeting on Thursday to assess progress on measures designed to increase investment in housing and construction, according to a statement issued by the Prime Minister’s Office (PMO).
During the meeting, participants were briefed on proposals developed by the Task Force on Construction and Housing Sector and its working groups, along with updates on the implementation of approved initiatives.
Officials highlighted that special steps are being introduced to encourage investment from foreign investors and overseas Pakistanis in the housing and construction sector.
The government believes these initiatives will boost residential construction, stimulate economic activity, and generate employment opportunities. Participants noted that legal reforms for the construction sector are progressing तेजी, with legislation nearing completion.
A low-cost loan scheme has already been introduced for affordable housing projects, and banks will be assigned specific lending targets in the next phase. Work is also underway to develop a comprehensive mortgage financing ecosystem across the country.
In addition, authorities are designing a developer-led financing system to support residential construction projects.
“Every citizen has the right to own a home; in this regard, provision of loans on easy terms is the top priority of the government,” the statement quoted PM as saying.
The prime minister highlighted the strong investment potential in Pakistan’s housing sector and directed officials to eliminate barriers hindering investment.
He also assured that investments by foreign nationals and overseas Pakistanis would be protected.
“Promoting investment in the construction sector will not only boost the economy but will also create millions of job opportunities,” he said.
PM Shehbaz instructed relevant authorities to devise a practical strategy to further promote investment in housing and construction and ensure its effective implementation.
He emphasized that all stakeholders—including public and private sectors, provincial governments, Azad Jammu and Kashmir, and Gilgit-Baltistan—should be involved in formulating the strategy.
The prime minister also directed that comprehensive measures for the development of the residential construction sector be finalised and implemented promptly.
The meeting was attended by key officials, including federal ministers, the attorney general, the State Bank governor, chief secretaries of all provinces, as well as representatives from the private sector and senior government officials.
