Islamabad: Prime Minister Shehbaz Sharif has said facilitating the provision of residence through low-cost housing projects is the government’s top priority. He was chairing a review meeting of the Task Force on Development of Housing Sector for low-cost residential projects in Islamabad today.

According to Radio Pakistan, the Prime Minister stated that these initiatives will not only provide the common people with access to affordable housing schemes but will also contribute to economic growth and generate employment opportunities. He directed the Task Force to collaborate with the Ministry of Finance and banks to swiftly present recommendations for financing low-cost housing projects, which will be incorporated into the upcoming budget proposals.

Shehbaz Sharif emphasized that the development of the construction sector is vital for the sustainable growth of the national economy. During the meeting, the Prime Minister was briefed on the progress of government initiatives related to low-cost housing projects. It was further informed that amendments to the Condominium Act 2025 and the Foreclosure Law are in their final stages. Once approved, these amendments will make it easier to obtain loans for the construction and ownership of houses under low-cost housing initiatives.

The Task Force also provided an update on progress within the construction sector, particularly regarding the launch of low-cost housing projects.