PM Wants Cheap House Financing for Low-Income Earners in Upcoming Budget

Prime Minister Shehbaz Sharif on Wednesday directed the government’s housing task force to arrange financing for low-cost housing schemes. Chairing a meeting of the task force on housing sector development, the prime minister stressed that expanding access to affordable housing will not only help citizens but also stimulate the economy. He instructed the task force to work with the Ministry of Finance and commercial banks to develop concrete funding proposals for inclusion in the upcoming federal budget. Officials informed the meeting that legal reforms to facilitate housing finance are close to finalisation. The Condominium Act 2025 and amendments to the Foreclosure Law are expected to be approved soon, which will ease access to loans for individuals seeking to build or purchase homes under low-cost housing programs. The task force also reviewed progress on existing construction projects and upcoming low-cost housing launches. It was additionally noted that the government is prepared to offer 100 percent guarantees to banks involved in housing finance schemes to encourage more lending.