The real estate and construction sector has the potential to uplift the economy and put Pakistan on the path of sustainable economic growth, said Islamabad Chamber of Commerce and Industry (ICCI) President Sardar Yasir Ilyas Khan.
Speaking at the inauguration ceremony of Asasa Real Estate and Builders, he urged the government to extend the prime minister’s construction package for another year that would help attract maximum investment to Pakistan and bring revolution to the construction industry.
Khan said housing demand was on the rise in Pakistan due to rapidly increasing population and the country needed to build around 12 million houses per year to bridge the huge gap. He added that an extension in the construction package for one more year would facilitate the construction of more houses across the country, especially for the low-income segments of society.
“Over 70 allied industries are associated with the construction sector and a boom in construction activities will give a boost to the business of allied industries besides creating plenty of new jobs,” he highlighted.
The ICCI chief stated that the real estate and construction sector played a key role in economic development of a country and the government should provide more incentives to the sector for achieving better economic growth and employment generation.
He stressed that the government should make more policies conducive for economic empowerment of women so that they could play an effective role in economic development.
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