Latest news with #CondominiumAct2025
Daily Tribune
23-05-2025
- Business
- Daily Tribune
Pakistan PM Suggests Saudi Arabia as Neutral Venue for Future Talks with India
Prime Minister Shehbaz Sharif has proposed Saudi Arabia as a potential neutral ground for future peace talks between Pakistan and India, expressing cautious optimism for easing tensions between the two nuclear-armed neighbors. Speaking during a closed-door media briefing at the Prime Minister's House, Shehbaz revealed that ongoing communication between the Directors General of Military Operations (DGMOs) from both countries had helped reduce friction. He noted that these military-level exchanges could pave the way for formal diplomatic engagement. 'If talks progress, Pakistan's delegation will be led by the National Security Adviser,' the Prime Minister confirmed. Shehbaz ruled out China as a venue for dialogue, citing India's opposition, and instead proposed Saudi Arabia as a location that could be mutually acceptable. He emphasized that any future negotiations would address four critical areas: Kashmir, water rights, trade relations, and counterterrorism. In a related political development, the Prime Minister also confirmed that he consulted with PML-N leader and former premier Nawaz Sharif before conferring the symbolic rank of field marshal upon Army Chief General Syed Asim Munir. Shehbaz described the decision as a "consulted one," reflecting the leadership's consensus-based approach to high-level appointments. On the domestic front, Shehbaz chaired a meeting focused on affordable housing initiatives. Stressing the sector's potential to boost employment and economic growth, the Prime Minister reviewed updates on the upcoming Condominium Act 2025 and proposed amendments to the Foreclosure Law. These reforms are aimed at improving access to housing loans and making low-cost housing more accessible to the public. The developments underscore the Sharif administration's dual focus on stabilizing regional diplomacy while addressing pressing socioeconomic issues at home.
Saudi Gazette
22-05-2025
- Business
- Saudi Gazette
Pakistan PM proposes Saudi Arabia as neutral venue for talks with India
ISLAMABAD — Pakistan Prime Minister Shehbaz Sharif has proposed Saudi Arabia as a potential neutral venue for future dialogue between Pakistan and India, expressing hope for de-escalation between the two nuclear-armed neighbors. In a briefing to Pakistani media anchors at the PM House, Shehbaz said that ongoing communication between the Directors General of Military Operations (DGMOs) of both countries had calmed tensions, laying the groundwork for potential negotiations. He confirmed that Pakistan's National Security Adviser would lead the country's delegation if talks proceed. Responding to questions about third-party venues, the prime minister ruled out China as unacceptable to India and said Saudi Arabia might be a mutually agreeable location for dialogue. He said any future talks would center on four core issues: Kashmir, water, trade, and terrorism. In a separate revelation, Shehbaz also confirmed that he consulted with PML-N leader Nawaz Sharif before promoting Army Chief Gen. Syed Asim Munir to the symbolic rank of field marshal, calling it a "consulted decision" in line with his leadership's approach to key appointments. On domestic matters, the prime minister presided over a meeting focused on affordable housing. He stressed the importance of low-cost housing initiatives to stimulate the economy and create jobs. The task force presented updates on the forthcoming Condominium Act 2025 and amendments to the Foreclosure Law, which are expected to ease access to housing loans. — Agencies
Business Recorder
22-05-2025
- Business
- Business Recorder
Low-cost housing projects in Pakistan: PM takes step to fuel growth
ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday said that low-cost housing projects will not only make homeownership more accessible for citizens but also stimulate economic growth and create much-needed employment opportunities. Speaking at a meeting of the taskforce on housing sector development, he emphasised that facilitating access to affordable housing will be a key priority for the government, and urged that efforts be accelerated to secure financing for low-cost housing initiatives. He directed the taskforce to collaborate with the Ministry of Finance and banks to put forward recommendations for funding, which are expected to be included in the upcoming budget proposals. He highlighted the critical role of the construction sector in supporting sustainable economic growth, describing it as a key driver for the country's development. Housing finance schemes: Pakistan govt ready to offer 100% guarantees to banks The prime minister was briefed on the progress of government-led initiatives aimed at expanding low-cost housing options. It was revealed that the Condominium Act 2025 and proposed amendments to the Foreclosure Law are nearing final approval, which will make it easier for citizens to access loans for the construction and ownership of homes under affordable housing schemes. The taskforce also provided an update on the progress of ongoing construction projects, with particular focus on the launch of new low-cost housing schemes. Copyright Business Recorder, 2025
Business Recorder
22-05-2025
- Business
- Business Recorder
Low-cost housing projects: PM takes step to fuel growth
ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday said that low-cost housing projects will not only make homeownership more accessible for citizens but also stimulate economic growth and create much-needed employment opportunities. Speaking at a meeting of the taskforce on housing sector development, he emphasised that facilitating access to affordable housing will be a key priority for the government, and urged that efforts be accelerated to secure financing for low-cost housing initiatives. He directed the taskforce to collaborate with the Ministry of Finance and banks to put forward recommendations for funding, which are expected to be included in the upcoming budget proposals. He highlighted the critical role of the construction sector in supporting sustainable economic growth, describing it as a key driver for the country's development. Housing finance schemes: Pakistan govt ready to offer 100% guarantees to banks The prime minister was briefed on the progress of government-led initiatives aimed at expanding low-cost housing options. It was revealed that the Condominium Act 2025 and proposed amendments to the Foreclosure Law are nearing final approval, which will make it easier for citizens to access loans for the construction and ownership of homes under affordable housing schemes. The taskforce also provided an update on the progress of ongoing construction projects, with particular focus on the launch of new low-cost housing schemes. Copyright Business Recorder, 2025
