Islamabad: The capital city was seen to generate PKR 100 billion worth of economic activity following the initiation of various uplift schemes aimed at reviving the construction sector during 2020, according to a report publicized by the Capital Development Authority (CDA).
Moreover, the Building Control Section (BCS) of the civic agency approved the maps of 2,315 buildings spanning over 22 million square feet and received PKR 1.92 billion in terms of fee. In 2019, the section had provided its approval to 2,075 residential and 138 commercial buildings.
CDA spokesperson Mohsin Sherazi said that in the past the civic agency did not give enough attention to the approval of private housing societies which had resulted in an increased number of illegal structures in the city. Not to mention that the civic agency also suffered economic loss as investors hesitated from funding in real estate projects. Sherazi also revealed that the government’s policy to uplift the construction sector will also boost CDA’s revenue in the coming years.