Skip to main content

NEWS: Growth in construction activities to strengthen economy: PM

 Premier says country's coastal belt feasible to attract foreign tourism

Imran Khan

ISLAMABAD: Prime Minister Imran Khan has said that growth in construction activities will strengthen the national economy and provide employment opportunities to the people.

The prime minister said this while chairing a weekly meeting of the National Coordination Committee on Housing, Construction and Development on Friday.

He directed the Punjab government to approve applications for construction as per prevailing laws as soon as possible, besides directing Pakistan Telecommunication Authority (PTA) and National Electric Power Regulatory Authority (NEPRA) to work with the State Bank of Pakistan (SBP) to resolve issues related to the construction sector at the earliest.

The PM also stressed on public awareness regarding the Naya Pakistan Housing Scheme.

SBP Governor Reza Baqir informed the meeting that the banks are ensuring provision of facilities to the people for obtaining loans under the Naya Pakistan Housing Scheme. Moreover, special desks have been set up at around half of the bank branches in each district across the country, he added.

The Punjab chief secretary briefed the meeting that applications for construction work on 44 million square feet have been received from all over the province and approval for construction on 20 million square feet has been given.

He said commencement of construction work on 44 million square feet in Punjab will start economic activities worth about Rs1 trillion. The chief secretary told the meeting that with the enhancement of construction activity, the consumption of all allied materials like cement, bricks and steel had also increased.

Meanwhile, the Khyber Pakhtunkhwa chief secretary informed the meeting that so far, applications for construction on six million square feet have been received. This will generate Rs100 billion economic activity in the province, he added.

A representative of Bank Al Habib informed the meeting that they have so far approved a loan worth Rs6 billion for the construction industry.

Special assistants to the Prime Minister Malik Amin Aslam and Shahbaz Gill, Adviser to PM on Institutional Reforms Dr Ishrat Hussain, federal and provincial secretaries and senior officers also attended the meeting.

‘COASTAL TOURISM’

Separately, while chairing a meeting of the working groups of Pakistan Island Development Authority and Ravi Urban Development Authority on Friday, Prime Minister Imran Khan said that Pakistan’s coastline is feasible for urban constructions of international standard and attract foreign tourism.

He said that the country’s coastal line has the capacity to create enormous opportunities for foreign investment. The Ravi City Project will not only help reduce population pressure on big cities like Lahore, but also introduce new dimensions of urban planning, he added.

The premier said that big projects will have a positive impact on the country’s economy and the lives of the common people, adding that these projects will help develop local industry and create new job opportunities.

The PM was briefed that Ravi City and the urban centres on islands will be constructed in line with the principles of green city for the first time in the history of Pakistan.

Comments

Post a Comment

Popular posts from this blog

NEWS: Construction incentives

  Construction incentives A lacklustre economic performance and Covid-19 were compelling factors to announce a special incentive package for the construction sector by the prime minister on April 3, 2020. Promotion of construction as an industry was the hallmark of this announcement. The recently announced extension in the incentive package for another year, along with an amnesty for another three months, has also been well appreciated by the Pakistani business community. The amnesty scheme was introduced for the construction sector and people were allowed to invest in the real-estate sector without disclosing the source of income. It attracted a good number of builders and contractors, who started investing in this sector, and generated healthy competitive economic activity. But it was a time-bound scheme – supposed to last till December 31, 2020. Now that the government has extended the facility, that’s really an appreciable step in the right direction. The salient features of th...
Post a Comment
Read more

NEWS: 28 buildings sealed for illegal commercial use

LAHORE : Lahore Development Authority (LDA) carried out a grand operation against illegal commercialisation and sealed 28 properties in various localities here on Saturday. Officials said the operation was carried out on the direction by Lahore Development Authority Director General Ahmed Aziz Tarar. They said the staff of Town Planning Zone 1 conducted a grand operation against illegal commercial use of residential buildings in different areas of the city and sealed a total of 28 properties at various locations. These included 10 properties in New Muslim Town and nine each in Shadman and Shah Jamal areas. Meanwhile, Lahore Development Authority announced a pre-bid conference of contractors, interested in construction of 4,000 apartments under Lahore Development Authority City Naya Pakistan Apartments scheme. The conference will be held on Monday at the committee room of Engineering Wing, LDA office Johar Town. Tenders for this project will be opened on February 10, 13, 17 and 20. Laho...
Post a Comment
Read more

NEWS: Pakistan set to begin Gwadar shipyard project

Pakistan has finalised the details for the construction of a new shipyard in Gwadar, the country’s deep seaport in Balochistan, with an aim to incentivise commercial shipbuilding and repair industry, create new jobs and spur economic growth. Pakistan’s federal and provincial governments have announced a joint collaboration by signing an MoU for the establishment of Gwadar shipyard. The project in the strategically located Gwadar city is of “great regional importance” and also significant for the socio-economic development of Balochistan and overall Pakistan as it will “create employment for the locals” and boost revenue generation for the province, said Federal Minister for Defence Production Zobaida Jalal.  Gwadar shipyard will offer shipbuilding and repairing as well as training facilities benefiting the whole region, she said. The project, which will begin after the completion of its feasibility study, is expected to take at least two to three years, officials say. Balochistan C...
Post a Comment
Read more