Islamabad, 13 May, 2025: In a bid to unlock long-term housing finance and make home ownership manageable for the salaried class, Federal Minister for Planning, Growth, and Special Initiatives Ahsan Iqbal chaired a high-level meeting on Monday to discover sustainable policy models for affordable housing.
The minister identified the lack of long-term housing finance as one of the biggest obstacles in expanding affordable housing access.
Replicating on reforms made during 2017–18, he wailed that political instability had disturbed continuity in policy execution.
“People spend their entire lives in rented homes. A house shouldn’t linger an unattainable dream for the working class,” Iqbal said, pointing to the unaffordability of homes worth Rs20–30 million without structured financing options.
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The participants studied international best practices and mortgage models from countries including Singapore, South Africa, Turkey, Bangladesh, Brazil and India.
Discussions focused on scheming a practical and sustainable housing finance framework tailored to Pakistan’s socio-economic landscape.
He stressed the government’s responsibility to simplify this through guarantees and regulatory support, announcing “The government is ready to offer 100 percent agreements to banks to ensure the security of their capital.”
To synchronize controlling support, the Planning Ministry will consult Law Minister Azam Nazeer Tarar, according to an official press release.
Highlighting the importance of market-led solutions, Iqbal called on private banks to come forward and offer housing finance instruments.
“Crafting a workable housing finance model is achievable. We must customize proven models from other countries,” he said.
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The meeting was attended by Planning Secretary Awais Manzoor Sumra, Vice Chancellor of PIDE Nadeem Javed, Governor of the State Bank of Pakistan, CEOs of private banks, and representatives from PMRC and National Bank of Pakistan.
During the meeting, CEOs of private banks responded positively to the proposals, expressing willingness to collaborate in designing a practical financing framework for affordable housing.
“This is not just a policy initiative, it is a national economic and social imperative,” the minister remarked.
