PM reviews steps to promote residential investment

ISLAMABAD: In a move to boost confidence and drive growth in Pakistan’s housing industry, Prime Minister Shehbaz Sharif on Thursday said that investments by foreign investors and overseas Pakistanis in the residential sector would not only be welcomed but also fully protected. Speaking at a review meeting on measures to promote residential investment, expand low-cost housing, and create jobs, Sharif said revitalising the construction sector would be a key driver of economic growth and generate millions of employment opportunities. “Every citizen has the right to their own home. Providing loans on easy terms is the government’s top priority,” he said, underlining his administration’s commitment to affordable housing initiatives. READ MORE: Call for reforms to save construction, housing industries Highlighting the sector’s investment potential, Sharif called for the removal of obstacles hindering investment in the residential market. He directed authorities to develop a practical strategy for promoting construction and residential development, involving all stakeholders, including provincial governments and the administrations of Azad Jammu & Kashmir and Gilgit-Baltistan. Officials from the task force and associated working groups briefed the prime minister on proposals to expand the residential sector and on the implementation of previously approved measures. They said special steps were underway, as directed by Sharif, to encourage investment by foreign nationals and overseas Pakistanis, which would increase residential construction, stimulate economic activity, and create jobs. Officials added that legal reforms in the sector were progressing rapidly, with relevant legislation nearing completion. A low-cost loan system for affordable housing projects has already been implemented, with banks to be assigned specific targets in the next phase. Plans are also under way to develop a comprehensive mortgage finance ecosystem, alongside a developer-led financing framework for residential construction. Sharif directed that all measures for residential construction development be finalised promptly, with robust mechanisms to ensure effective implementation. The meeting was attended by key members of the federal cabinet, including Law Minister Azam Nazir Tarar, Finance Minister Muhammad Aurangzeb, Housing Minister Riaz Pirzada, Economic Affairs Minister Ahad Cheema, and Minister of State for Finance Bilal AzharKiani, along with Attorney General Mansoor Awan, State Bank Governor Jameel Ahmed, chief secretaries of the four provinces, representatives from Gilgit-Baltistan and Azad Jammu & Kashmir, private sector experts, and senior officials from relevant departments. Copyright Business Recorder, 2026

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