Islamabad: Prime Minister Shehbaz Sharif has directed the implementation of practical steps to effectively deliver house finance facilities to the common man. He chaired a meeting focused on the Ministry of Housing and Works in Islamabad.

According to Radio Pakistan, the Prime Minister emphasized that providing housing for low-income groups, initiating affordable housing projects, encouraging private sector involvement, and enhancing public facilities are key priorities. During the meeting, a strategic roadmap of the Ministry of Housing and Works was presented.

It was highlighted that reforms are underway in the tax structure for the construction sector. There is ongoing consultation between the Federal Board of Revenue and provincial authorities to standardize taxes for the construction industry.

The meeting also discussed the preparation of a policy for building homes for low-income groups through public-private partnerships. Additionally, plans were mentioned to establish a Real Estate Regulatory Authority to oversee rules and regulations in the real estate and housing sectors.

In terms of house finance, the Ministry of Housing is collaborating with the Ministry of Finance, FBR, Securities and Exchange Commission, and provincial governments on Real Estate Investment Trust initiatives.