The decision was made during a high-level meeting of the Economic Coordination Committee (ECC), chaired by Finance Minister Muhammad Aurangzeb, where several key national issues were discussed. The approval of a Low-Cost Housing Scheme was at the top of the agenda. This scheme is aimed at providing long-term housing relief to millions.

Under this initiative, the government will provide financial assistance through the Markup Subsidy Risk Sharing Scheme, designed to offer home loans to low-income individuals on easy terms. The main goal is to help families either build or purchase homes with affordable long-term financing.

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As per the Ministry of Finance, Rs2 million to Rs3.5 million will be received by eligible applicants, repayable in easy installments over 20 years. The government has also offered a markup subsidy on the loans to reduce the financial burden on citizens.

To ensure transparency and proper targeting, the Ministry of Housing has been directed by the finance minister to immediately develop a centralized database for identifying eligible beneficiaries and tracking disbursements.

Other pressing national matters were also addressed by the ECC. Concern was raised over rising prices of ghee and cooking oil, with officials noting that the benefit is not being passed on to consumers even though international prices have dropped. To bring down local prices and offer relief to the public, ministers were instructed to take concrete steps.

Additionally, the committee approved granting formal industry status to the ship-breaking and recycling sector. The main aim of this is to boost industrial growth, generate employment, and strengthen Pakistan’s economic foundation.

The government stated that these initiatives are part of a broader strategy to support the economy and provide real relief to the people, particularly those in need of affordable housing and fair market prices.