Prime Minister Shehbaz Sharif has directed relevant authorities to formulate a practical strategy to further promote investment in the construction and housing sector and ensure its implementation. PM Shehbaz Sharif instructed that all public and private sector stakeholders, including provincial governments as well as Azad Kashmir and Gilgit-Baltistan, should be included in the formulation of the strategy. Chairing a meeting held in Islamabad on Thursday to review measures for promoting investment in the housing sector, provision of low-cost housing, and increasing employment in the sector, Shehbaz Sharif said owning a home was the right of every citizen adding that providing loans on easy terms in this regard was the government’s top priority. “There is vast potential for investment in the country’s housing sector. Obstacles in the way of investment will be removed to fully utilize this potential”, the prime minister assured. He said the protection of investments by foreign investors and overseas Pakistanis in this sector will be ensured. The prime minister pointed out that promoting investment in the construction sector will not only drive economic growth but also create millions of employment opportunities. The meeting was briefed on the proposals of the task force and relevant working groups on the construction and housing sector. Participants were also given a detailed update on the progress of implementation of approved measures. On the prime minister’s instructions, special measures are being taken to facilitate investment by foreign investors and overseas Pakistanis in the construction and housing sector, the meeting was informed. These measures will lead to an increase in residential construction projects, promote economic activity, and generate employment opportunities. It was further informed in the meeting that work on legal reforms in the sector was progressing rapidly, and legislation was in its final stages. “A system for low-cost loans for affordable housing projects has been implemented; in the next phase, banks will be assigned targets in this regard.” The meeting was told that work on developing a complete mortgage finance ecosystem in the country was progressing swiftly. “A comprehensive developer-led financing system for the housing construction sector is also being developed.” The prime minister directed that the comprehensive measures for the development of the housing construction sector be finalized at the earliest and implemented effectively. The meeting was attended by Federal Ministers Azam Nazeer Tarar, Ahad Khan Cheema, Muhammad Aurangzeb, Mian Riaz Hussain Pirzada, Minister of State Bilal Azhar Kayani, Attorney General Mansoor Awan, Governor State Bank Jameel Ahmad, along with chief secretaries of all four provinces, Gilgit-Baltistan, Azad Jammu & Kashmir, private sector experts, and other senior officials.