Pakistan, June 26 -- Islamabad - Finance Minister Muhammad Aurangzeb has announced a major housing relief package for people looking to buy their first home. Speaking in the National Assembly, he introduced a new 20-year loan scheme aimed at helping first-time buyers purchase residential properties with long-term financial support.

According to the minister, the new law will not apply to properties worth up to Rs. 50 million, plots worth up to Rs. 100 million, or vehicles priced up to Rs. 7 million. This move is expected to benefit middle-income citizens and promote housing development across the country.

In addition, the government has updated the withholding tax policy. Properties bought before July 1, 2024, are currently subject to 4...