PM Shehbaz orders steps for delivering house finance facility to common man

Prime Minister Shehbaz Sharif has directed undertaking practical steps to effectively deliver house finance facility to the common man, reported 24NewsHD TV channel.

PM Shehbaz Sharif was chairing a meeting regarding Ministry of Housing and Works at PM House in Islamabad on Wednesday.

Shehbaz Sharif said providing housing for low-income groups, affordable housing projects including encouragement of the private sector and improvement of public facilities are among our priorities.

The meeting was given a briefing on the strategic roadmap of the Ministry of Housing and Works.

It was informed that reforms are being made in the tax structure for the construction sector. Consultation is ongoing between the Federal Board of Revenue and the provinces regarding tax standardization for the construction sector.

The meeting was informed that a policy is being prepared for the construction of houses for low-income groups under public-private partnership. It was informed that a Real Estate Regulatory Authority would be established regarding rules and regulations for the real estate and housing sectors.

Regarding house finance, the meeting was informed that the Ministry of Housing is working in collaboration with the Ministry of Finance, FBR, Securities and Exchange Commission and provinces on Real Estate Investment Trust.

Reporter Awais Kiyani