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May 6, 2026
The Economic Coordination Committee (ECC) has approved a revised housing finance framework and the second phase of the EV policy to support financing access and electric vehicle adoption.
As part of larger economic and energy sector reforms, the Cabinet’s Economic Coordination Committee (ECC) has approved the second phase of the electric vehicle (EV) policy and a redesigned housing finance framework.
Measures to increase home finance under the Prime Minister’s housing initiative were approved by the meeting, which was presided over by Finance Minister Muhammad Aurangzeb. The updated framework seeks to promote cooperation from both banking and non-banking financial institutions, improve institutional participation, and expand access to funding.
In order to facilitate the expansion of the housing industry, the framework also encourages public-private partnerships and seeks to draw in participation from Pakistanis living abroad.
Concurrently, under the National Electric Vehicle Policy, the ECC authorised the second phase of the Pakistan Accelerated Vehicle Electrification (PAVE) Program. Measures to increase implementation effectiveness, broaden access, and fortify verification procedures are included in the revised phase.
The decisions, according to officials, are a part of continuous initiatives to improve housing access and encourage greener modes of transportation.
The approvals demonstrate the ongoing focus of policy on energy transition, infrastructure development, and financial inclusion, each of which are anticipated to serve long-term environmental and economic goals.
