‘Revival of construction industry is vital for boosting employment’

LAHORE: The construction industry often referred to as the backbone of Pakistan’s economy, its revival is essential for boosting employment, driving economic growth, and attracting investment stated by Nazir Hussain, President Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) during a think tank session held at PCJCCI Secretariat Tuesday.

He added that this critical sector influences 72 interconnected industries which play a central role in driving economic growth, creating employment opportunities, and attracting significant investments.

With the potential to unlock $100 billion in investments and create millions of jobs, the revival of the construction industry is vital for Pakistan’s economic recovery.

He also stressed that supportive government policies will play a crucial role in unlocking the full potential of the construction industry.

Tax reductions, affordable mortgage schemes, and streamlined regulatory processes are essential for creating an environment conducive to growth. By addressing sectoral barriers, the government can pave the way for increased investment and industrial development. These measures, coupled with CPEC’s infrastructure projects, will lay the groundwork for sustainable progress.

Brig Mansoor Saeed Sheikh (Retd) Senior Vice President PCJCCI shared that China-Pakistan Economic Corridor (CPEC) provides an unparalleled opportunity to rejuvenate the construction industry and boost the nation’s economy.

As a flagship project of the Belt and Road Initiative, CPEC has been a driving force behind infrastructure development in Pakistan.

From roads and bridges to industrial zones and housing projects, the partnership between CPEC and the construction industry promises to accelerate growth, attract Foreign Direct Investment (FDI), and introduce advanced technologies. Additionally, CPEC’s focus on enhancing regional connectivity will boost trade and commerce, creating a ripple effect across multiple sectors.

Zafar Iqbal, Vice President PCJCCI said that the construction sector’s resurgence will have a far-reaching impact, invigorating a wide range of industries such as cement, steel, ceramics, real estate, and IT solutions.

Core construction materials, energy providers, interior finishing, and smart technology are just a few examples of the 72 interconnected industries poised to thrive alongside a revitalized construction sector.

This interconnected network will generate a multiplier effect, strengthening Pakistan’s economic foundation and ensuring long-term resilience.

Salahuddin Hanif, Secretary General PCJCCI shared that the revival of Pakistan’s construction industry is not just a sectoral priority it is a national imperative. Its growth will eliminate unemployment, boost industrial output, and enhance the quality of life for millions of Pakistanis.

Policymakers, industry leaders, and stakeholders must collaborate to advocate for reforms that will rejuvenate this critical sector and capitalize on the opportunities presented by CPEC. Together, these efforts can ensure a robust and sustainable economic future for Pakistan.

Copyright Business Recorder, 2025