Islamabad: A high-level meeting on affordable housing finance schemes was chaired by Federal Minister for Planning, Development, and Special Initiatives, Mr. Ahsan Iqbal, addressing the challenges of long-term housing finance and exploring viable policy models for low-cost housing in Pakistan.

The meeting included Planning Secretary Awais Manzoor Sumra, Vice Chancellor of PIDE Nadeem Javed, the Governor of the State Bank of Pakistan, and key figures from private banks and PMRC. They reviewed international best practices from countries such as Singapore, South Africa, and Brazil, aiming to create a sustainable finance framework tailored to Pakistan’s needs.

Minister Ahsan Iqbal stated that the lack of long-term housing finance is a major hurdle for affordable housing in the country. He noted previous progress in 2017-18 was hampered by political instability, adding, “When policy continuity is lacking, the public bears the cost.”

The Minister questioned why successful auto-leasing models couldn’t be replicated in housing, suggesting a similar approach to make homeownership attainable for the salaried class. He announced government readiness to offer 100% guarantees to banks to secure their capital.

The Planning Ministry’s proposed financial framework was introduced by Member Infrastructure Waqas Anwar, with the Punjab government also planning its housing rollout program. Legal and regulatory streamlining will involve Federal Minister for Law, Azam Nazeer Tarar.

Iqbal urged private banks to adopt a housing finance model with government backing. He proposed targeted subsidies for smaller housing units while leaving design frameworks for larger units to the banks.

Private banks expressed willingness to collaborate on a practical financing framework, acknowledging the initiative as a socio-economic necessity.

“This is not just a policy initiative—it is a national economic and social imperative,” concluded the Minister.