{
  "id": 12620274,
  "title": "Govt plans to raise mortgage finance to 5% of GDP by 2035",
  "url": "https://urgent.news/2026/10/07/govt-plans-to-raise-mortgage-finance-to-5-of-gdp-by-2035",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-07T11:44:00.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40443099/govt-plans-to-raise-mortgage-finance-to-5-of-gdp-by-2035"
  },
  "original_language": "en",
  "account": "The Pakistani government has proposed raising mortgage finance to 5% of the country's gross domestic product (GDP) by 2035, up from just below 0.5% currently. This announcement was made alongside plans to construct 300,000-400,000 housing units annually through a new housing reform framework. The proposals were presented by Waqas Anwar, a member of the Planning Commission, at a meeting of the eighth National Economic Mission under the \"Uraan Pakistan\" framework. The meeting was chaired by Federal Minister for Planning, Development and Special Initiatives, Ahsan Iqbal. The proposals also include digitising land records, permits, valuations and transfers by the end of fiscal year 2029, one-window construction approvals, incentives tied to verified construction milestones, and secure escrow payments for property transactions. Ahsan Iqbal emphasized that Pakistan must leverage all sectors of the economy to achieve a $1 trillion economy, highlighting the crucial role of the real estate and construction sectors, which support 72 allied industries and account for about 9.5% of national employment. The country currently faces a significant housing challenge, with urban population growth outpacing supply, resulting in an annual shortfall of around 450,000 homes. Addressing the need for modernisation, Iqbal stressed the importance of adopting new technologies, innovation, and efficient building methods, while also asserting that Pakistani construction companies must build a robust international presence to compete in global markets. He stressed the necessity for collaboration between public and private sectors to foster a stronger economy, with the construction sector not only meeting domestic demand but also serving as an avenue for exports and foreign exchange earnings.",
  "summary": "The government has proposed raising mortgage finance to 5% of gross domestic product (GDP) by 2035 from below 0.5% currently, alongside plans to build 300,000-400,000 housing units annually under a new housing reform framework, the Planning Ministry said on Wednesday. The proposals on housing, construction and real estate reform framework were presented by Member Planning Commission Waqas Anwar…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}