Prime Minister Shehbaz Sharif has directed the government’s housing task force to urgently arrange financing for low-cost housing initiatives, underscoring the dual benefits of affordable housing for citizens and the broader economy.

Chairing a meeting on housing sector development on Wednesday, the prime minister emphasized that expanding access to affordable homes is a top government priority. He instructed the task force to collaborate closely with the Ministry of Finance and commercial banks to develop concrete funding proposals for inclusion in the upcoming federal budget.

Officials briefed the meeting on the progress of legal reforms aimed at making housing finance more accessible. The much-anticipated Condominium Act 2025 and amendments to the Foreclosure Law are nearing final approval, measures expected to make it easier for individuals to secure loans for building or purchasing homes under low-cost housing programs.

The task force also reviewed the status of ongoing construction projects and discussed plans for new low-cost housing launches. In a bid to encourage greater participation from commercial banks, the government is prepared to offer 100 percent guarantees on loans issued under these schemes.