National Real Estate News

Islamabad | ReNews Pakistan

The Overseas Pakistanis Foundation (OPF) has invited competitive bids for infrastructure development on 33 kanals of recovered land and the rehabilitation and asphalt carpeting of adjoining streets and roads at its Housing Scheme on Budhni Road, Peshawar, as part of efforts to improve essential infrastructure and integrate additional land into the existing residential development.

The procurement, advertised on October 6, 2026, covers two major components, including infrastructure development on the recovered land and improvement of the adjoining road network through asphalt carpeting and rehabilitation works.

According to the tender notice, the procurement has been issued under reference number OPF 1388, with funds reserved for the project during the financial year 2026-27.

Interested construction companies and eligible contractors have been invited to submit their bids electronically through the e Pak Acquisition and Disposal System (EPADS) version 2.0.

The Public Procurement Regulatory Authority (PPRA) record specifies October 22, 2026, at 12:00 PM as the deadline for submission of bids, while the electronic opening of bids is scheduled for 12:30 PM on the same day.

The tender requires participating contractors to furnish bid security amounting to Rs 872,649, while the validity period of submitted bids has been fixed at 120 days.

OPF has adopted the Single Stage Two Envelope competitive bidding procedure, under which technical and financial proposals are submitted separately for evaluation in accordance with the procurement requirements.

The selection process will follow a least cost based evaluation approach, with financial proposals considered according to the prescribed criteria after the relevant technical requirements have been assessed.

The foundation has made registration on EPADS v2.0 mandatory for interested contractors, who must obtain the bidding documents and submit their proposals through the electronic procurement platform.

The bidding documents contain detailed terms and conditions, technical specifications, eligibility requirements and other information relating to the proposed civil works.

According to the procurement notice, manual submission of bids will not be entertained, making electronic participation compulsory for interested contractors.

The proposed development work is aimed at providing the necessary infrastructure on 33 kanals of recovered OPF land and connecting the area with the existing facilities and road network of the housing scheme.

The project also includes asphalt carpeting and rehabilitation of adjacent streets and roads to improve access and ensure better connectivity between the existing residential sections and the area proposed for development.

Improvement of the road network is expected to facilitate movement within the housing scheme and support the effective use of the recovered land once the required infrastructure works are completed.

The Budhni Road Housing Scheme is one of the residential developments established by the Overseas Pakistanis Foundation to provide planned housing facilities for overseas Pakistanis and other eligible purchasers.

According to official OPF project information, the housing scheme covers approximately 930 kanals of land and is situated around 1.5 kilometres from the Motorway M 1 exit on Budhni Road in Peshawar.

The project was approved on February 14, 1990, while its original development works were completed in 2005.

The housing scheme comprises residential and commercial plots supported by roads, sewerage infrastructure, water supply arrangements, gas connections, electricity facilities and other essential services.

Official project records indicate that the scheme includes 758 residential plots and 74 commercial plots, with a substantial number of plots already allotted to overseas Pakistanis and other eligible applicants.

OPF has also identified maintenance of roads, water supply infrastructure, boundary walls and other facilities among the continuing development and maintenance requirements of the housing scheme.

The development of the recovered 33-kanal area represents an opportunity to improve the utilisation of available land within the existing housing project, subject to completion of the required infrastructure works and applicable planning approvals.

The asphalt rehabilitation component is particularly important for connecting the development area with the existing network of streets and roads.

Improved road conditions can also support access to residential and commercial properties and facilitate the movement of residents, service vehicles and construction-related transport.

However, the tender information does not specify the number of additional residential or commercial plots that may eventually be developed on the recovered land.

Likewise, the available procurement details do not provide the project's total approved construction cost, commencement date or contract completion period.

These details are expected to become clearer following the evaluation of bids, selection of a successful contractor and finalisation of the construction contract.

The planned infrastructure development is part of OPF's broader responsibility to manage and improve housing facilities established for overseas Pakistanis, including the maintenance of essential services and development of land available within its residential projects.

Karachi | ReNews Pakistan

Bahria Town Karachi is hosting the 10th National Road Cycling Championship 2026, bringing together more than 150 professional cyclists and participants from across Pakistan for three days of national level competition aimed at promoting competitive cycling and encouraging sporting activities.

The championship, which commenced on October 9, will continue until October 11, featuring cyclists representing provincial, regional and departmental teams from different parts of the country.

Organised by the Pakistan Cycling Federation (PCF), the event includes participants from Pakistan Army, Sui Southern Gas Company (SSGC), Gilgit Baltistan, Punjab, Sindh, Khyber Pakhtunkhwa, Balochistan and Islamabad, along with other professional cycling groups and institutions.

The competition features several categories, including men's elite, women's elite, juniors, professionals, para cycling and masters, providing opportunities for athletes with different levels of experience and competitive backgrounds.

Race distances range from approximately 30 kilometres to 150 kilometres, depending on the category, testing the endurance, speed, physical fitness and technical abilities of participating cyclists.

The championship has attracted experienced national level riders as well as emerging cyclists seeking to demonstrate their abilities against competitors representing established sporting institutions and regional teams.

According to the organisers, Bahria Town Karachi was selected as the venue because of its extensive road infrastructure, which includes wide, well maintained roads, challenging turns, varying elevations and routes suitable for competitive road cycling.

These characteristics provide riders with opportunities to demonstrate their ability to maintain speed, negotiate technical sections and manage physical endurance over different race distances.

The residential development had previously hosted a cycling marathon on August 15, 2026, allowing organisers and cyclists to assess the quality of its road network and the suitability of the location for large-scale cycling competitions.

The experience gained during that event reportedly contributed to the selection of Bahria Town Karachi as the venue for the national championship.

The Pakistan Cycling Federation has also introduced an Open Masters category for the championship, allowing experienced and community cyclists from Karachi and other parts of the country to participate alongside professional and provincial teams.

The inclusion of para cycling competitions provides athletes with disabilities an opportunity to participate in a national sporting event and demonstrate their competitive abilities.

The championship is also contributing to the promotion of women's participation in competitive cycling through dedicated women's events.

Road cycling requires participants to combine physical endurance with technical skills, race management and strategic decision making, particularly when competing over longer distances and challenging road sections.

National-level championships provide an important platform for athletes to compete against experienced riders, improve their performance and gain exposure to organised sporting competitions.

The Pakistan Cycling Federation has emphasised the importance of continuing sporting activities and providing opportunities for young athletes to showcase their abilities at the national level.

Federation President Syed Azhar Ali Shah has highlighted the role of such championships in encouraging youth participation in sports and promoting cycling as a competitive discipline in Pakistan.

The hosting of the championship at Bahria Town Karachi has brought together athletes, team officials, support personnel and sporting representatives from different regions, creating opportunities for interaction and competition among participants from across the country.

The event also demonstrates the potential use of established urban road infrastructure for organised sporting competitions and other large-scale activities.

By hosting a national cycling championship, Bahria Town Karachi is further expanding its profile as a venue for sporting events, while providing facilities for athletes and organisers participating in the competition.

The three day championship will conclude on October 11, with the closing ceremony and medal distribution scheduled for the final day.

The event is expected to contribute to the visibility of road cycling in Pakistan and encourage greater participation in the sport among young and emerging athletes.

Karachi | ReNews Pakistan

The Karachi Port Trust (KPT) has invited competitive bids for the replacement of an existing Reinforced Concrete (RCC) sewerage line serving its buildings KV-23 and KV-24 in Keamari, Karachi, as part of civil infrastructure maintenance work aimed at improving sewerage facilities and ensuring the continued functionality of the affected buildings.

The tender, advertised on October 7, 2026, covers civil works required to replace the existing sewerage line connected to the two KPT buildings.

According to the procurement notice, interested contractors are required to submit their bids by November 16, 2026, with the submission deadline fixed at 9:30 AM.

The bids will be opened at 10:00 AM on the same day, allowing the authority to proceed with the evaluation and selection process in accordance with the prescribed procurement procedure.

The tender requires participating contractors to furnish bid security amounting to Rs 25,000, while the validity period for submitted bids has been fixed at 120 days.

KPT has adopted the Single Stage One Envelope competitive bidding procedure for the procurement, under which contractors are required to submit their proposals in accordance with the technical and financial requirements specified in the tender documents.

The project involves replacing the existing RCC sewerage pipeline serving buildings KV 23 and KV 24 to support the maintenance and efficient functioning of the associated drainage and wastewater disposal infrastructure.

RCC sewerage pipelines are an important component of institutional and urban infrastructure, providing the necessary system for transporting wastewater from buildings into the connected sewerage network.

The replacement of such infrastructure is intended to support the continued operation of sewerage facilities and reduce potential maintenance problems associated with ageing or deteriorating pipelines.

Keamari is a major port-related district of Karachi and accommodates various administrative, operational and residential facilities associated with the Karachi Port Trust and surrounding port activities.

The maintenance of essential infrastructure, including sewerage and drainage systems, forms an important part of ensuring the functionality of buildings and services located within the port's administrative areas.

The proposed civil works are specifically related to the sewerage line serving the two identified KPT buildings, although improvements to the connected infrastructure may also support drainage conditions in their immediate vicinity.

According to the available tender information, the estimated total construction cost, commencement date and contract completion period have not been specified.

These details are expected to become clearer following the evaluation of bids, selection of the successful contractor and finalisation of the civil works agreement.

The procurement has been issued under tender reference number P-145986 E/CS-2(192).

The sewerage line replacement forms part of the Karachi Port Trust's infrastructure maintenance requirements, with the commencement of construction activities dependent on completion of the procurement process and award of the contract.

The project is expected to support the maintenance of essential sanitation infrastructure associated with KPT's buildings in Keamari and contribute to the continued availability of functional sewerage facilities at the affected premises.

Islamabad | ReNews Pakistan The federal government has decided to issue a third tender for the construction of Karachi Information Technology Park on November 15, 2026, after two previous attempts to attract qualified contractors failed to receive any bids, causing further delays to one of Pakistan's major technology infrastructure development projects. Under the revised procurement schedule, eligible Korean construction companies will be invited to submit their bids by January 4, 2027, while the government has set June 2027 as the new target for commencing construction activities. According to sources, the Ministry of Information Technology and Telecommunication has revised its procurement strategy to address the difficulties encountered during the previous two unsuccessful bidding rounds. The ministry has decided to undertake an independent review of the project's bidding documents before launching the third tender, with the objective of improving the procurement process and encouraging participation from qualified Korean contractors. The first two tendering attempts failed after no eligible companies submitted bids, preventing the authorities from awarding the construction contract and proceeding with the planned development work. Under the revised arrangements, an independent Construction Contracts Consultant will examine the Request for Proposal (RFP), contractual requirements and other relevant bidding documents before the fresh tender is issued.The review of the draft RFP is scheduled to be completed by October 25, 2026. The Project Review and Steering Committee has directed that the independent assessment be completed before the next bidding round to identify and address potential procedural, technical or contractual issues affecting contractor participation. According to the revised schedule, approval for the re-tendering process will be sought from the Project Review Committee and the Export-Import Bank of Korea by November 15, 2026. Following the required approvals, the third tender will be advertised through an open competitive bidding process involving all eligible Korean companies. Technical bids submitted by interested contractors will be examined by the project's Technical Evaluation Committee, while financial proposals will undergo a separate evaluation process. After the completion of technical and financial assessments, the Project Steering and Review Committee will consider the recommendations before the final approval process is undertaken with Korea Exim Bank. The government has set March 25, 2027, as the target date for signing the construction contract with the successful bidder. Following the signing of the agreement, the selected contractor will be required to fulfil contractual obligations, including the submission of a bank guarantee, before receiving the necessary advance payment and mobilising resources for construction. Under the proposed timetable, contractor mobilisation and the commencement of construction activities are expected by June 2027, subject to successful bidding and timely completion of the remaining formalities. Karachi IT Park is one of the federal government's major technology infrastructure initiatives, aimed at promoting Pakistan's information technology industry, encouraging investment, supporting technology entrepreneurship and strengthening the country's capacity to expand IT exports. The project was approved by the Executive Committee of the National Economic Council (ECNEC) on June 4, 2021, while its foundation stone was laid in Karachi on November 7, 2022. At the time of approval, the project carried an estimated cost of $186.658 million, equivalent to approximately Rs 41.39 billion at the exchange rates used in the original project estimates. The financing arrangement includes a $158.416 million loan from the Export-Import Bank of Korea, while the remaining $28.242 million was allocated as Pakistan's contribution through the Public Sector Development Programme (PSDP). The technology park is planned on approximately six acres of land near Jinnah International Airport in Karachi, providing modern facilities and integrated infrastructure for information technology companies, technology startups and related businesses. According to the project's detailed design documents, the development includes a purpose built building comprising eight above ground floors and three basement levels, equipped with modern office facilities, data centres, parking arrangements, backup power systems and advanced information and communication technology infrastructure. The project is designed to accommodate software development companies, IT-enabled service providers, research organisations, technology startups and other enterprises operating in the digital economy. Facilities planned for the park include business offices, data infrastructure, shared technological services and spaces intended to support collaboration among industry, academic institutions and emerging technology businesses. The development is expected to contribute to Pakistan's efforts to establish a stronger technology ecosystem, improve opportunities for entrepreneurship and attract greater domestic and foreign investment into the information technology sector. At the project's launching ceremony, government officials estimated that the facility could generate more than 20,000 direct and indirect employment opportunities for IT professionals and workers associated with supporting activities. However, the actual scale of employment generation will depend on the project's completion, occupancy levels and the number of companies establishing operations at the facility. Karachi IT Park was initially scheduled for completion in June 2026, but its development has experienced repeated delays because of administrative, technical and procurement related challenges. Earlier complications included objections concerning the proposed building design near Karachi Airport, issues involving land allocation and regulatory approvals, and subsequent difficulties in securing a construction contractor. The procurement challenges became more pronounced when two consecutive bidding rounds failed to attract any eligible contractors, preventing the commencement of the main construction work. The latest decision to undertake an independent review of bidding documents and introduce a revised procurement schedule represents another attempt by the government to move the delayed project towards implementation. The successful completion of the third bidding round will be particularly important because further procurement setbacks could affect the revised target for commencing construction in June 2027. Karachi IT Park is considered a significant component of Pakistan's broader digital infrastructure development strategy, alongside other technology parks and initiatives intended to support the expansion of the country's IT and IT-enabled services industries. The project is expected to facilitate technology companies by providing integrated business infrastructure and access to facilities that could strengthen innovation, research collaboration and commercial development. Its completion could also support Pakistan's ambitions to expand IT exports, attract international technology companies and improve the competitiveness of domestic enterprises in regional and global markets. However, progress on the project will now depend largely on the outcome of the third tender, the participation of eligible Korean contractors, the timely completion of technical and financial evaluations and final approval of the construction contract by Korea Exim Bank.

Islamabad | ReNews Pakistan

The Federal Board of Revenue (FBR) has established the National Faceless Centre (NFC) in Islamabad under the Finance Act 2026, introducing a major administrative reform aimed at digitising tax audits, assessments and related proceedings while reducing direct interaction between taxpayers and tax officials.

The initiative forms part of the government's broader efforts to modernise Pakistan's taxation system, strengthen institutional transparency, improve accountability and minimise discretionary powers in tax administration.

Under the new framework, tax-related proceedings will increasingly be conducted electronically, replacing traditional arrangements in which taxpayers were required to interact directly with designated tax officers at particular offices.

The legal framework for the establishment of the National Faceless Centre has been provided through Section 32C, introduced under the Finance Act 2026.

According to the provision, the FBR has been empowered, notwithstanding other provisions of the relevant law, to establish the National Faceless Centre and determine its jurisdiction, powers and functions for conducting tax proceedings through a faceless mechanism.

The legislation also authorises the tax authority to establish an administrative structure comprising a Director General, Inland Revenue officers and supporting staff, depending on operational requirements.

Furthermore, the FBR has been empowered to establish different wings and units within the centre to perform specialised functions relating to tax administration and regulatory proceedings.

The FBR formally announced the establishment of the National Faceless Centre on September 25, 2026, following a decision taken during a meeting of the Board in Council.

Under the new system, cases requiring tax audits will be selected through a computerised, risk-based mechanism rather than through the discretionary decisions of individual tax officers.

Once selected, cases will be assigned automatically to designated officers who may be stationed in different parts of the country.

The arrangement is intended to prevent tax officials from independently selecting particular taxpayers for examination and to minimise opportunities for undue influence or personal intervention in tax proceedings.

A significant feature of the faceless system is the separation of responsibilities relating to tax audits, assessments and quality control.

Under Section 32C, these three functions in a specific case for a particular tax period will be performed by separate officers.

One officer will undertake the audit, another will conduct the assessment, while a third officer will review the proceedings to ensure that applicable procedures and quality requirements have been followed before the final order is issued.

This division of responsibilities is designed to ensure that no single official exercises complete control over an individual taxpayer's case throughout the proceedings.

The legislation also provides for the use of electronic communication between different units of the National Faceless Centre, registered taxpayers, their authorised representatives and other relevant persons.

All necessary documents, information, evidence and official correspondence relating to the proceedings will be exchanged electronically.

According to the FBR, notices, responses and hearings under the new system will be processed through its IRIS digital platform.

However, cases requiring physical verification, field inspections or recovery proceedings under the law will be handled by separate field teams.

The National Faceless Centre will operate through dedicated administrative wings responsible for faceless audits, faceless assessments, quality control and field operations.

A Programme Management Unit has also been established to supervise the implementation and operational development of the new system.

The FBR expects the initiative to improve the efficiency and consistency of tax administration by ensuring that cases are processed according to standardised procedures rather than individual preferences.

The reform is also intended to address longstanding complaints concerning unnecessary personal interaction, administrative delays and the exercise of discretionary authority in tax proceedings.

By introducing automated case allocation and separating audit and assessment responsibilities, the tax authority aims to strengthen transparency and accountability within the taxation system.

The establishment of the centre represents another step in Pakistan's transition towards technology-based tax administration, where electronic records, automated processes and digital communication are expected to play an increasingly important role.

However, the effectiveness of the new framework will depend on reliable technological infrastructure, transparent case allocation procedures, data protection safeguards and effective accountability mechanisms.

Ensuring the security and confidentiality of taxpayer information will also remain a crucial requirement as a greater proportion of tax proceedings moves to electronic platforms.

The FBR maintains that the National Faceless Centre will contribute to faster, fairer and more transparent tax proceedings while providing taxpayers with a more standardised and efficient system for handling audits and assessments.

The reform is expected to support wider efforts to strengthen tax compliance, improve institutional performance and modernise Pakistan's overall revenue administration.

Islamabad | ReNews Pakistan

The federal government has accelerated energy sector reforms under its commitments to the International Monetary Fund (IMF), preparing to overhaul the existing electricity and gas tariff slab and cross-subsidy systems and introduce a targeted financial assistance mechanism for deserving and low-income consumers.

Under the proposed reform programme, a new electricity subsidy framework is scheduled to be introduced in January 2027, while a revised subsidy arrangement for natural gas consumers is expected to take effect from July 1, 2027.

According to official sources, the planned changes are intended to replace broad-based tariff concessions and cross subsidies with a more targeted mechanism that determines eligibility for financial assistance according to the socioeconomic circumstances of individual households.

The Power Division has initiated work, with support from the World Bank, to link electricity consumers with the National Socio Economic Registry (NSER), enabling authorities to identify households that qualify for government assistance.

Sources said the government aims to complete the verification and linking of consumer records by the end of November 2026, after which eligibility criteria for the new subsidy mechanism will be determined.

The proposed framework will utilise socioeconomic information and records associated with the Benazir Income Support Programme (BISP) to identify vulnerable households and ensure that financial assistance is directed towards consumers who face difficulties meeting their energy expenses.

The reforms form part of Pakistan's commitments under the IMF programme, which requires the government to replace the existing budgeted electricity tariff differential subsidy and cross subsidy arrangements with a targeted, budget-funded support mechanism for low income consumers.

Under the agreed reform schedule, the government is expected to establish a new subsidy disbursement mechanism through BISP by the end of January 2027.

The transition represents a significant change in Pakistan's approach to energy subsidies, which currently provides different levels of tariff relief according to consumer categories, electricity consumption and other regulatory classifications.

Under the existing cross subsidy framework, certain categories of consumers pay relatively higher tariffs to help finance concessions provided to other groups.

The proposed system seeks to shift the focus from consumption-based concessions towards financial assistance determined by household income and socioeconomic vulnerability.

According to sources, the government is pursuing these reforms partly to reduce the financial burden associated with energy subsidies and address persistent circular debt problems in the electricity and gas sectors.

Pakistan's energy sector has continued to face financial challenges arising from differences between supply costs and recoveries, outstanding payments, operational inefficiencies and the accumulation of circular debt.

The proposed changes are also intended to improve the allocation of public resources by ensuring that budgetary support reaches consumers who are genuinely in need of assistance.

However, the transition could have financial implications for households currently benefiting from subsidised tariff slabs but which may not qualify for assistance under the new eligibility criteria.

Consumers who are excluded from the targeted subsidy mechanism could face higher effective energy costs depending on the final tariff structure and the extent to which existing concessions are withdrawn.

Conversely, qualifying low income households are expected to receive financial assistance through a mechanism linked to verified socioeconomic data.

Sources said the government is also preparing to revise the natural gas subsidy framework, with the proposed changes expected to be introduced from July 1, 2027.

The existing gas pricing structure includes different consumer slabs and protected categories, while variations between regulated tariffs and the actual cost of supply have contributed to financial pressures on gas utilities.

The proposed reforms seek to address these imbalances while retaining targeted support for economically vulnerable households.

The broader energy reform programme is also being pursued alongside efforts to improve the financial performance of electricity distribution companies and advance preparations for their privatisation.

Sources said power distribution companies have submitted applications seeking adjustments to base electricity tariffs, while the government has briefed the IMF on developments concerning the restructuring and proposed privatisation of distribution companies.

The changes are expected to require coordination among the Power Division, regulatory institutions, electricity distribution companies, the BISP administration and other relevant government agencies.

The success of the proposed system will depend significantly on the accuracy of household data, transparent eligibility criteria and effective mechanisms for delivering financial assistance to deserving consumers.

A major challenge will be ensuring that economically vulnerable households are not excluded from the subsidy programme because of incomplete socioeconomic records, documentation difficulties or other administrative limitations.

The government will also need to establish a public communication strategy to inform electricity and gas consumers about the proposed changes, eligibility requirements and procedures for receiving assistance.

The final tariff structures, subsidy amounts and detailed eligibility rules for electricity and gas consumers have yet to be formally announced

Islamabad | ReNews Pakistan
The federal government has proposed an ambitious plan to increase mortgage financing from less than 0.5% of Pakistan's gross domestic product (GDP) to 5% by 2035, alongside a comprehensive housing and real estate reform framework aimed at expanding homeownership, accelerating residential construction and strengthening the country's property sector.
Under the proposed framework, the government intends to facilitate the construction of 300,000 to 400,000 housing units annually through the House Ownership Plan for Everyone, addressing the growing gap between housing demand and supply across Pakistan.
The proposals were presented by Planning Commission Member Waqas Anwar during the eighth National Economic Mission meeting under the Uraan Pakistan framework, chaired by Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal in Islamabad on October 7.
According to figures presented during the meeting, Pakistan requires approximately 700,000 new housing units annually, while existing supply stands at around 250,000 units, creating an estimated annual shortage of 450,000 homes.
The proposed construction targets are intended to increase housing availability, although achieving even the upper target of 400,000 units would remain below the country's currently estimated annual housing demand.
A major component of the reform framework involves expanding access to institutional housing finance, allowing more prospective homeowners to obtain mortgage loans for residential property purchases and construction.
The proposed increase in mortgage financing to 5% of GDP by 2035 would represent a substantial expansion of Pakistan's currently underdeveloped housing finance market.
The government also plans to modernise property administration by digitising land records, building permits, property valuations and ownership transfers by fiscal year 2028-29.
Additional reforms include introducing one-window construction approvals, establishing secure escrow payment arrangements for property transactions and linking financial incentives to independently verified construction milestones.
These measures are intended to improve transparency, simplify regulatory procedures and strengthen confidence among property buyers, developers and financial institutions.
Addressing the meeting, Planning Minister Ahsan Iqbal emphasised that the housing, construction and real estate sectors could play a significant role in achieving Pakistan's broader economic development objectives.
He highlighted the construction industry's connections with 72 allied industries and its contribution of approximately 9.5% to national employment, underscoring its importance for industrial activity and job creation.
The meeting was informed that Pakistan's urban population had increased from approximately 76 million in 2017 to 94 million in 2023, placing additional pressure on residential infrastructure and urban planning.
Figures presented during the meeting indicated that built-up areas expanded between 2005 and 2022 by 104% in Islamabad, 72% in Quetta, 59% in Lahore, 44% in Peshawar and 43% in Karachi.
Ahsan Iqbal stressed the importance of promoting vertical residential development rather than allowing unchecked horizontal expansion, particularly where expanding urban settlements threaten agricultural land.
He also called for the adoption of modern construction technologies, improved building methods and stronger cooperation between public and private sector stakeholders.
The minister said Pakistan's construction industry should move beyond meeting domestic housing requirements and develop the capacity to compete internationally, attract investment and generate export earnings.
The proposed mortgage financing expansion and housing reforms form part of the government's broader strategy to strengthen economic activity, promote investment in real estate and construction, and improve access to housing.
However, the announced measures remain proposals under the reform framework, with their eventual implementation dependent on detailed policies, financing arrangements and coordination among government institutions, banks and private developers.

Karachi | ReNews Pakistan
More than 20 major roads across Karachi will undergo excavation beginning in January 2027 under the Rs 72 billion K-IV water supply augmentation project, aimed at strengthening the city's water distribution infrastructure and improving access to drinking water in areas facing persistent shortages.
The extensive infrastructure development will involve laying water pipelines along approximately 96 kilometres of roads, with construction expected to continue for 22 months. The planned excavation has raised concerns about potential traffic congestion, disruption to commercial activities and inconvenience for residents and commuters in Pakistan's largest metropolitan city.
Briefing the media on the project's implementation, K-IV Project Manager Faisal Javed said the tendering process was underway and construction activities were scheduled to commence in January 2027.
He explained that excavation would be carried out in phases rather than simultaneously across all affected roads to minimise disruption to the city's transportation network.
Under the proposed construction strategy, contractors will excavate road sections measuring between one and three kilometres, install the required water pipelines and subsequently proceed to the next section.
Javed said the phased approach was designed to limit inconvenience to motorists, businesses and residential communities while maintaining progress on the water supply project.
The estimated cost of the K-IV augmentation pipelines stands at Rs 72 billion, although project authorities have acknowledged that the final expenditure could increase during implementation.
According to the project manager, two international financial institutions are supporting the scheme, while the Sindh government will contribute 20 percent of the required funding.
The involvement of international financial institutions is expected to provide financial support for the development of water distribution infrastructure intended to address Karachi's growing water supply requirements.
Addressing concerns regarding damage to existing roads, Javed assured that the project authorities would be responsible for restoring roads affected by excavation activities.
He said arrangements had also been made to cover payments associated with gas and electricity infrastructure that could be affected during pipeline installation.
The planned construction work is expected to require careful coordination with relevant utility providers and civic authorities, particularly in densely populated areas where underground infrastructure and heavy traffic present significant challenges.
Responding to concerns about possible delays, Javed maintained that the pipeline installation would be completed within the stipulated 22-month period.
Following completion, the infrastructure will be handed over to the relevant water corporation for operational management and distribution of the additional water supply.
The K-IV project is designed to bring an additional 250 million gallons of water per day from Keenjhar Lake to Karachi, providing an important opportunity to improve water availability in neighbourhoods experiencing severe shortages or lacking regular supplies.
Karachi has long faced challenges associated with inadequate water distribution infrastructure, increasing demand and uneven access to municipal water supplies.
The planned augmentation infrastructure is intended to strengthen the distribution network and help ensure that additional water reaches communities where existing supply arrangements remain insufficient.
While the project represents a significant investment in Karachi's essential infrastructure, its implementation will also present a major challenge for urban mobility as excavation activities progress across key roads over the nearly two-year construction period.
The success of the initiative will depend not only on timely pipeline installation but also on effective traffic management, restoration of damaged roads and the eventual delivery of additional water to underserved communities.

Islamabad | ReNews Pakistan
The federal government has set a target of increasing agricultural financing to Rs 1.5 trillion by June 2027, aiming to expand access to institutional credit for 4.5 million farmers, particularly small landholders, as part of broader efforts to strengthen Pakistan’s agricultural sector, enhance food security and stimulate economic growth.
Prime Minister Shehbaz Sharif outlined the government's financing priorities during a high-level meeting with the heads of 10 major commercial banks in Islamabad, where progress on agricultural loans, the Prime Minister’s Apna Ghar housing programme and financing for small and medium enterprises (SMEs) was reviewed.
According to figures presented during the meeting, agricultural lending had reached Rs 1.352 trillion by the end of September 2026, benefiting approximately 3.45 million people across the country.
The government now intends to increase agricultural financing to Rs 1.5 trillion and expand the number of beneficiaries to 4.5 million by June 2027, providing additional financial support to farmers seeking to improve agricultural production and invest in modern farming methods.
Addressing the meeting, Prime Minister Shehbaz Sharif emphasised that agriculture remained a fundamental pillar of Pakistan’s economy and that improving farmers’ access to affordable financing was essential for enhancing crop yields, strengthening rural livelihoods and ensuring national food security.
He directed commercial banks to prioritise small farmers, who often face difficulties obtaining formal credit due to limited financial resources and restricted access to banking facilities.
The prime minister stressed that major financial institutions should actively participate in extending agricultural loans to smaller landholders, enabling them to purchase essential farming inputs, adopt modern agricultural technologies and improve productivity.
The meeting also reviewed progress under the Prime Minister’s Apna Ghar housing programme, which aims to expand access to housing finance and facilitate affordable homeownership.
Officials informed the meeting that housing loans worth Rs 426 billion had been approved under the programme, while Rs 76 billion had so far been disbursed to beneficiaries.
For the fiscal year 2026-27, the government has established a financing target of Rs 700 billion to support the construction and delivery of approximately 125,000 residential units.
Expressing concern over the difference between approved and disbursed housing loans, the prime minister directed banks to accelerate the release of approved financing so that eligible applicants could receive funds without unnecessary delays.
The meeting was further informed that consultations were underway to develop a financing framework that would improve developers’ access to institutional credit and support housing sector development.
Progress in SME financing was also discussed, with officials reporting that approximately 350,862 business owners had received loans amounting to Rs 1.137 trillion.
The government has set a target of increasing SME financing to Rs 1.5 trillion by June 2027, while expanding the number of beneficiary entrepreneurs to 565,000.
Prime Minister Shehbaz Sharif described SMEs as the backbone of Pakistan’s economy, highlighting their importance in employment generation, industrial development and overall economic activity.
He stressed that improved access to financing would enable small businesses to expand operations, increase production and contribute more effectively to national economic growth.
The prime minister appreciated the banking sector’s efforts to increase lending in agriculture, housing and SMEs, while urging financial institutions to further strengthen their cooperation with the government in achieving the financing targets.
Representatives of the participating commercial banks expressed confidence in the government's economic policies and reaffirmed their commitment to supporting financing initiatives in priority sectors.
The government's expanded lending targets are intended to improve financial inclusion, promote investment, strengthen agricultural productivity and create additional employment opportunities across Pakistan.