Iftikhar Malik hails PM's package for construction industry

LAHORE: Prime Minister Imran Khan's massive package for the construction industry is a ray of hope at the time when the country's industry bearing the brunt of coronavirus impact and it will provide a boost to the country's economy in addition to creation of ample new job opportunities.

Hailing Prime Minister's unprecedented package of incentives in a press statement here on Monday, President SAARC Chamber Iftikhar Ali Malik said that construction sector has great potential to boost economic activities but due to some restrictive measures of the government, the sector had contracted by 7.6 percent during 2019 as per last quarterly report of SBP, which caused great loss to the economy.

Throwing light on the package, he said all salient features announced in this colossal incentive package would help boosting the economic activities besides giving confidence to investors and business community. He said another important point in this package was that the government will not ask anyone about the source of the income which will be pumped into construction sector of the country. He said this entice people to bring their black money by participating in economic activities.

Iftikhar Malik further said Prime Minister Imran Khan deserves appreciation for announcing a subsidy of Rs30 billion to be given for the Naya Pakistan Housing Scheme which would boost the construction industry. "There is a shortage of over two million homes in Pakistan right now, whereas the size of construction industry is over Rs250 billions and now after the announcement, this would help the sector to fill the housing gap and create jobs.

In his concluding remarks he urged the shelter less people to take advantage of this package and build their own homes with all the time low interest rate and subsidies otherwise will repent throughput life.-PR

Copyright Business Recorder, 2020