One thing a critic cannot fault the\npresent regime for is their ambition. What some skeptics may call tall claims, can\nbe viewed by others as aspiration. Though the targets seem too ambitious, the progressive\ninitiative is a step in the right direction. When the government promised to\ncreate 10 million jobs and build 5 million houses across the country during its\n5-year tenure, the larger masses responded with enthusiasm. <\/p>\n\n\n\n
According to UNDP, Pakistan needs to\ncreate 1.5 million more jobs every year to keep up with the rising youth\npopulation prepared to enter the labor market. The good news, however, is that the\ngovernment\u2019s two plans go hand in hand since housing is a huge stimulus for\nemployment generation worldwide. <\/p>\n\n\n\n
A global estimate is that every $1\ninvested in housing results in the contribution of an additional $1.5 to $3 to\nthe GDP. Similarly, for every 1 housing unit built, 2 to 7 jobs are created. A\nsimplistic calculation would suggest, building 5 million houses could create\nbetween 10-35 million jobs. <\/p>\n\n\n\n
Prime Minister Imran Khan\u2019s team has\ncalculated rather more ambitious numbers. They argue that, construction of each\nhouse would create 20 jobs each year. This way, construction of 3 million\nhouses would generate an additional 60 million jobs within the time it takes to\nbuild these houses. If that is 5 years, 12 million jobs will be created each\nyear. <\/p>\n\n\n\n
Furthermore, the team claims that the\njobs created will require a variety of workers, including unskilled,\nsemi-skilled, and skilled. In addition, 1-1.5 million jobs will be injected into\nrelated manufacturing industries such as cement, steel, marble, furniture,\nglass, paints and white goods, and in services industries such as banking, real\nestate, security, maintenance and insurance.<\/p>\n\n\n\n
While construction largely requires daily\nwage laborers, it also employs builders, project managers, site managers,\narchitects, interior designers, and contractors. It is estimated that nearly 50\nlarge, medium and small industries are involved in construction. Demand for construction\nand housing related industries will further raise the demand for skilled and unskilled\nworkers. <\/p>\n\n\n\n
To some, creation of 60 million jobs in\nfive years would sound a bit unrealistic. A study conducted by Karandaaz\nPakistan finds that the construction of 100,000 3, 5 and 10 marla houses in\nLahore every year creates between 150,000-400,000 rolling jobs. It means, 5 million houses could generate as many as\n20 million jobs.<\/p>\n\n\n\n
The purpose,\nhowever, is not to get lost in the numbers game, but rather to consider the long-term\nbenefits to the economy. Housing has a multiplier effect on jobs creation. Once\nthe market becomes flourishing, and the regulatory environment becomes\nconducive to investment, it will create a momentum in the market and open\nopportunities for scale and innovation. This will evolve job roles and create\nprospects for workers to transform their existing skill sets to thrive in the\nlabor market. <\/p>\n","protected":false},"excerpt":{"rendered":"
One thing a critic cannot fault the present regime for is their ambition. What some skeptics may call tall claims, can be viewed by others as aspiration. Though the targets seem too ambitious, the progressive initiative is a step in the right direction. When the government promised to create 10 million jobs and build 5 million houses across the country during its 5-year tenure, the larger masses responded with enthusiasm. According to UNDP, Pakistan needs to create 1.5 million more jobs every year to keep up with the rising youth population prepared to enter the labor market. The good news, however, is that the government\u2019s two plans go hand in hand since housing is a huge stimulus for employment generation worldwide. A global estimate is that every $1 invested in housing results in the contribution of an additional $1.5 to $3 to the GDP. Similarly, for every 1 housing unit built, 2 to 7 jobs are created. A simplistic calculation would suggest, building 5 million houses could create between 10-35 million jobs. Prime Minister Imran Khan\u2019s team has calculated rather more ambitious numbers. They argue that, construction of each house would create 20 jobs each year. This way, construction of…<\/p>\n","protected":false},"author":97,"featured_media":79088,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[29],"tags":[50525,50526,50527,43961,42928],"persona":[32409,32414],"class_list":{"0":"post-79080","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-construction","8":"tag-housing-construction","9":"tag-housing-construction-to-generate-jobs","10":"tag-jobs-in-pakistan","11":"tag-lob","12":"tag-zameen-research","13":"persona-constructiondevelopments","14":"persona-laws","15":"cat-29-id"},"acf":[],"yoast_head":"\n