Chairing a meeting on the Ministry of Housing and Works, the prime minister said affordable housing, private sector participation, and improved public facilities remain key government priorities.

Officials briefed the meeting on the ministry’s strategic roadmap, including ongoing reforms in the construction sector’s tax structure. The meeting was told that consultations between the Federal Board of Revenue (FBR) and provinces are under way to standardise taxes, alongside discussions on proposed mortgage reforms.

A framework is also being developed to build low-cost housing under Public-Private Partnership (PPP) models, the briefing added.

The meeting was informed that a Real Estate Regulatory Authority will be established to oversee the housing and real estate sectors.

“Regarding housing finance, the Ministry of Finance, FBR, the Securities and Exchange Commission, and provincial governments are working together with the Ministry of Housing on Real Estate Investment Trusts (REITs),” the meeting was told.

The session was attended by key federal ministers and senior officials.