Govt should give incentives to construction sector: KATI chief

KARACHI: President of Korangi Association of Trade and Industry (KATI) Faraz-ur-Rehman has said the government should give incentives to the construction sector. In the densely populated city of Karachi, there is an acute shortage of residential schemes for which more projects are needed. Similarly, the government should take steps to promote the cottage industry to create new employment opportunities to eliminate unemployment in the country, he added.

He expressed these views while addressing his birthday party on behalf of Bilal Talib, CEO of California Real Estate and Builders, a real estate company.

He said that there is a lack of better quality housing projects in Karachi, due to the lack of proper housing management in the city, people are forced to live in slums, which is causing problems of traffic and encroachment. Faraz said that the Bahria Town Phase 2 (BT2) project will provide modern and international standard accommodation to the people.

President KATI further said that if the government supervises the real estate sector with proper planning, along with the beautification of the city, the shortage of traffic and residential projects can be met, including the elimination of encroachment. President KATI said that the cottage industry is the backbone of the economy. The government should take positive steps for the promotion of the cottage industry. The birthday party was attended by well-known builders and developers of the city and personalities from various sectors and businessmen and industrialists.

Copyright Business Recorder, 2023