Construction industry seeks for allied industries coordination to build 500,000 low cost houses
Jun 10, 2020: The construction industry has called upon the government to provide allied industries coordination to materialize construction of low cost 500,000 houses in 16 major cities of the country.
The cement and steel are the key allied industries of the construction sector which are playing a central role in maintaining the cost of doing business and providing competitive to the construction industry, Chairman Association of Builder and Developers (ABAD) Mohsin Seikhani told on Wednesday.
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The chairman ABAD said that his association has given a budget proposal for the upcoming budget 2020-21 to the government to focus on prices of cement and steel industry for maintaining the cost of doing business to construct subsidized housing schemes all over the country.
He said that energy prices also affecting the construction industry’s inputs cost and,” We also need to maintain energy prices same as other regional countries.”
He said that investors from China, Italy, Turkey, and Iran wanted to come for investment in the local construction sector, “We need to encourage them for providing them facilities according to international level.”
He said that “We can attract the foreign investment in the construction sector through start the one window operation in our Special Economic Zones (SEZs) to facilitate them in the country.”
Mohsin also hailed the government’s tax relaxation decision for the construction industry, which he said would promote growth momentum.
Chairman ABAD said that now the construction sector acquired the status of the industry which would have a positive impact on the country’s economic health and also enhance economic growth.
He said that ABAD was demanding incentives for the construction sector because more than 38 allied industries were dependent on it.
“We are indebted to Prime Minister Imran Khan for reviving the construction industry and give this status for the revival of the sector,” he said.
Mohsin praised the government for comprehensive strategic plans to address the local industrial sector issues during the coronavirus pandemic.
Replying to a question, he vowed to construct 500,000 new houses in 16 major cities in the country during the next three years.
The houses would be built in four major cities including Karachi, Hyderabad, Sukkur, Nawab Shah, Lahore, Faisalabad, Multan, Gujranwala, Bahawalpur, Rawalpindi, Islamabad, Peshawar, Abbottabad, Nowshera, Haripur, Quetta, he said.
“We have completed our market study and acquired land and industrial players would start construction of houses to complete in the next two years,” He said.
Chairman Abad said, “We would provide these houses on affordable rates of Rs 3 to 2.5 million in two different categories for middle-class families for giving them good residential facilities in major cities”.
Chairman All Pakistan Cement Manufacturers Association, Azam Faruque said that construction of the new 500, 000 house to start business activity in the market and would benefit the steel industry.
On the occasion, Chairman Pakistan iron and steel Merchant Association, Tariq Irshad said that the construction industry was considered the backbone of any economy, which generated huge employment opportunities.
He welcomed the construction of new 500,000 houses from ABAD, which would start huge economic activity in the market to increase economic growth.