A review meeting was held under the chairmanship of Prime Minister Shehbaz Sharif on the promotion of investment in the housing sector, provision of low-cost houses and increase in employment.

The Prime Minister said that every citizen has the right to own a home and provision of loans on easy terms is the top priority of the government. Obstacles will be removed to take advantage of the vast investment potential in the housing sector.

The Prime Minister directed to ensure the protection of investment of foreign investors and overseas Pakistanis and said that investment in the construction sector will drive the economy and create millions of employment opportunities.

He directed the relevant authorities to formulate and ensure implementation of a workable strategy for the promotion of investment in the construction and housing sector, and to include the public and private sectors, as well as the provinces, Azad Kashmir and Gilgit-Baltistan.

The meeting was briefed on the proposals of the task force and working groups on the construction and housing sector, while the progress on the approved measures was also informed.

The briefing said that work is underway on special measures for foreign investors and overseas Pakistanis, legal reforms and a loan system for low-cost housing projects. Banks will be given targets in the next phase, while preparations are also underway for a complete ecosystem of mortgage finance and a comprehensive system of developer-led financing.

The Prime Minister directed that comprehensive measures for the development of the residential construction sector be finalized soon and implemented. The meeting was attended by federal ministers, attorney general, governor of the State Bank, representatives of the provinces, Gilgit-Baltistan and Azad Kashmir, private sector experts and relevant high-ranking officials.