The federal government has announced a new policy initiative aimed at encouraging the construction of low-cost homes and expanding access to mortgage financing.
According to the budget speech, a tax credit scheme will soon be introduced for individuals constructing or purchasing houses up to 10 marlas or flats not exceeding 2,000 square feet. The initiative is designed to offer financial relief to middle- and lower-income families and stimulate growth in the housing sector.
The government has also pledged to promote mortgage financing through a comprehensive policy framework, ensuring that a larger segment of the population can access affordable home loans. Under this strategy, a coordinated system involving public and private financial institutions will be implemented to simplify the process of obtaining housing loans.
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