Karachi: The construction sector witnessed a surge in inflows during the first six months of the current fiscal year, 2019-20 – a news source reported.
The inflows were primarily aimed at the China-Pakistan Economic Corridor (CPEC) project. This facilitated the sector’s growth, and it became the top recipient of foreign direct investment (FDI) during this period.
The construction sector inflows were calculated at USD 288 million during the six months under review. However, the said figure showed an 18% decline as compared to the figures of the same period last year. The previous inflows were USD 351 million.
Despite this inflow surge, people associated with the building and construction industry were not optimistic. They said that the construction and housing sector is facing trouble.
Many were of the view that these FDI figures represented growth under CPEC. They said that FDI for the current fiscal year does not take the issues faced by the general construction and housing industry into account.