Promotion of construction sector government’s foremost priority: PM

ISLAMABAD, Nov 11 (APP):Highlighting the significance of construction sector in boosting economic activities, Prime Minister Imran Khan Monday said the present government had given a lot of importance to the sector, which would help realize the project of five million housing units.

He was chairing a high level meeting, held here regarding the revival and promotion of construction sector. The meeting was briefed in detail about the challenges faced by the sector.

The meeting was attended by Punjab Chief Minister Usman Buzdar, Khyber Pakhtunkhwa Chief Minister Mehmood Khan, Punjab Finance Minister Makhdoom Hasham Jawan Bakht, Punjab Housing Minister Mian Mehmood-ur-Rasheed, Balochistan Finance Minister Zahoor Ahmad Bulaidi, FBR Chairman Syed Shabbar Zaidi, Board of Investment Chairman Syed Zubair Haider Gilani, Planning Commission Deputy Chairman Jahanzeb Khan, Naya Pakistan Housing Authority Chairman Lt Gen (R) Anwar Ali Haider and senior federal and provincial governments’ officers.

The prime minister said the promotion of construction sector was the government’s foremost priority, adding since around 40 industries were allied with it, the promotion of construction sector besides developing those industries would also create job opportunities for youth.

The meeting discussed in detail various proposals regarding the provision of bank loans, uniform implementation of taxes and promotion of public-private partnerships for the construction sector.

The prime minister was briefed about the problems faced by the builders, contractors, developers and real estate businesses, especially, the ratio of federal and provincial taxes, difficulties in the provision of capital from banks, problems regarding registration, other official procedures and corruption.

The prime minister, on this occasion, constituted a high level committee to be headed by Naya Pakistan Housing Authority Chairman Lt Gen (R) Anwar Ali Haider to formulate practicable proposals to address the challenges including the federal and provincial taxes faced by the construction sector.

Other members of the committee included the Federal Board of Revenue (FBR) chairman, Governor State Bank, Punjab finance minister, provincial chief secretaries and other relevant officers.

The prime minister directed the committee to submit a strategy along with recommendations to address the problems about taxes, provision of loans from banks and other difficulties faced by the construction sector within the next 24 hours.