Islamabad: Association of Builders and Developers (ABAD) Chairman Mohisn Sheikhani recently stated that Prime Minister Imran Khan’s relief package — aimed at reviving the country’s construction industry — would create employment opportunities for 15 million people across the nation, a news source reported today (November 9).
The chairman made these comments while commending the said package. He stated that several prominent real estate builders across the country found the package quite beneficial, as it would not only supplement activities in the construction sector and its related industries, but also help reduce the country’s housing shortfall.
Speaking to the media, Naya Pakistan Housing and Development Authority Chairman Lt. Gen (R) Anwar Ali said that the reforms introduced with regards to ease of doing business and increasing transparency would eventually bring in more investment in the sector. He further mentioned that the immunity extended to the people investing in projects registered with the FBR before the December 31 deadline was also contributing to this trend.
Lake City Holdings (Pvt) Ltd. Chairman Gohar Ejaz also praised the government, saying that the package was the first of its kind to offer loans at low markup rates to the country’s lower and middle class.
Reportedly, all stakeholders are confident that that the tax exemptions provided on the development of low-cost housing projects will have a positive impact on the national economy. It will increase the demand for construction material and strengthen at least 40 industries linked directly to the construction sector.