PM Imran Khan Big Incentive for Construction Industry In Pakistan
The President of the SAARC Chamber of Commerce and Industry said that the massive package for the construction industry is a ray of hope at a time when the industry is being affected by the Corona virus, and besides creating deep employment opportunities, the country’s economy is also booming.
SAARC CCI President Iftikhar Ali Malik said in a media statement here on Monday that the construction sector has great potential to boost economic activity but due to some restrictions, the SBP was given a quarterly report, During 2019, the agreement was 7.6%, which hurt the economy.
However, he added that all the salient features announced in the incentive package would help boost investor and business community as well as boost economic activity.
Malik said that Prime Minister Imran Khan should be commended for announcing a subsidy of Rs 30 billion for the New Pakistan Housing Scheme which would boost the construction industry. “Pakistan has a shortage of more than 2 million houses, while the construction industry is worth more than Rs 250 billion, and now with this announcement, it will help the sector fill the housing gap and create jobs.” Fortunately, the government has also given industry status to the construction sector, which will help it increase the facilities available to it.
“The growth of several allied industries has been linked to the growth of the construction sector and all favorable policies will help the allied industries to grow and play a significant role in strengthening the economy,” he said.
The SAARC-CCI president proposed that the country produce raw materials for the construction industry and that the government discourage imports of raw materials for the construction and housing sectors.
He urged the government to provide all possible facilities to foreign investors and businessmen if they want to invest in Pakistan’s construction sector.
Iftikhar Ali Malik said that Prime Minister Imran Khan had emerged as a great leader, especially at a time when coronaviruses were making life difficult for all walks of life, including business. He said that the incentive package for the business community and the relief package for the people showed that he was a visionary leader who wanted to make Pakistan economically independent, besides providing facilities to the poor.
He urged the people to take advantage of this package and build their houses with low interest rates and subsidies at all times.
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