LAHORE: The Pakistan Hardware Merchant Association has raised serious concerns over the worsening state of the hardware sector, primarily due to the government’s economic policies impacting the real estate and construction industries.
In a joint statement, Central Chairman Sardar Usman Ghani and Zonal Chairman Chaudhry Sultan Mehmood highlighted the plight of millions of workers, industrialists, and businesses associated with the construction hardware sector. They warned that over 60 industries and allied businesses are on the brink of collapse, leading to widespread unemployment.
The association leaders urged the government to take immediate action to alleviate the crisis. They proposed easing unnecessary tax restrictions on the real estate and construction industries and relaxing stringent revenue rules. They emphasized that the construction sector plays a crucial role in providing employment opportunities for the poor and boosting various industries and businesses.
However, due to the government’s policies, capital is being diverted to the stock market, which offers limited employment opportunities for the general public.
Copyright Business Recorder, 2024
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