ISLAMABAD: Prime Minister Shehbaz Sharif has called for immediate and practical measures to ensure that house financing is accessible to the common man. Chairing a meeting focused on the Ministry of Housing and Works, the Prime Minister emphasized the importance of providing housing for low-income groups, promoting affordable housing projects, and improving public amenities.

According to Radio Pakistan, attendees at the meeting received a briefing on the strategic roadmap of the Ministry of Housing and Works. The briefing highlighted ongoing reforms in the tax structure related to the construction sector, with discussions underway between the Federal Board of Revenue and provincial authorities to standardize taxes in this area.

A policy is currently being developed to facilitate the construction of houses for low-income groups through public-private partnerships. Additionally, plans to establish a Real Estate Regulatory Authority were discussed, focusing on setting rules and regulations for the real estate and housing sectors.

The Ministry of Housing is collaborating with the Ministry of Finance, the Federal Board of Revenue, the Securities and Exchange Commission, and provincial governments to work on a Real Estate Investment Trust, aiming to enhance the effectiveness of house financing strategies.