Prime Minister Muhammad Shehbaz Sharif on Thursday underscored the urgent need for comprehensive reforms in Pakistan’s housing sector as rapid population growth and unplanned urban expansion were increasing pressure on agricultural land and required an effective long-term strategy.
Chairing a high-level review meeting on housing sector reforms here, the prime minister said provision of affordable housing for low-income groups, promotion of low-cost housing schemes, encouragement of private sector participation and improvement in public amenities were among the government’s top priorities, a Prime Minister’s Office news release said.
He directed authorities to digitize and automate all matters related to the housing sector in order to enhance transparency and improve governance.
Prime Minister Shehbaz Sharif said bringing the housing sector under a proper regulatory framework was essential to attract overseas investors and ensure sustainable growth in the real estate and development sectors.
During the meeting, officials presented various proposals aimed at introducing reforms in the housing sector. Participants were informed that the regulatory framework would be simplified to facilitate credible investors and developers and promote transparency in housing projects.
The meeting was briefed that registration with the Securities and Exchange Commission of Pakistan should be made mandatory for all entities operating in the housing and development sector.
The officials also proposed the formulation of a strategy to prevent unplanned urban sprawl and encouraged vertical expansion and construction of high-rise buildings in major cities to efficiently utilize land resources.
The meeting further discussed proposals for master town planning in large urban centers and the establishment of a one-window system to protect the rights of developers, buyers, and other stakeholders.
Prime Minister Shehbaz Sharif directed authorities to hold consultations with provincial governments on the proposed reforms and policy measures.
The meeting was attended by Federal Minister for Economic Affairs Ahad Khan Cheema, Federal Minister for Housing and Works Mian Riaz Hussain Pirzada, Federal Minister for Interior and Narcotics Control Mohsin Naqvi, Federal Minister for Law and Justice Azam Nazeer Tarar, Adviser to the Prime Minister on Inter-Provincial Coordination Rana Sanaullah, Minister of State for Interior Talal Chaudhry, Minister of State for Finance and Railways Bilal Azhar Kayani, Chairman NAB Lieutenant General (R) Nazir Ahmad Butt, Attorney General Mansoor Awan and senior government officials.
