Govt plans to extend Defect Liability Period to three years for public projects

News Image

MG News | August 17, 2026 at 10:00 AM GMT+05:00

August 17, 2026 (MLN): The government is set to extend the standard Defect Liability Period for public development projects from the current one year to three years, with a clear roadmap for a further extension to five years, aimed at making public infrastructure cost-effective and highly durable.

The decision was shared by Minister for Economic Affairs and Establishment Division Senator Ahad Khan Cheema, who chaired a meeting in Islamabad to review major regulatory, operational, and financial reforms in the construction sector, said a press release issued.

The minister reiterated the government's commitment to ensuring civil infrastructure does not deteriorate shortly after completion, stressing durability as a core objective of the reform drive.

The meeting was also informed that the government is weighing a comprehensive construction industry development package, which includes plans to establish a Construction Industry Development Board and evaluate the setting up of a dedicated Construction Development Bank.

Furthermore, rationalizing import and export policies, and introduce targeted tax reforms for the construction sector are also key parts that are being looked into.

 

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 162,374.88
110.96M
-0.95%
-1549.44
ALLSHR 98,620.11
386.58M
-0.91%
-906.77
KSE30 47,823.16
51.47M
-1.02%
-490.65
KMI30 232,733.99
57.93M
-1.23%
-2903.19
KMIALLSHR 63,955.68
197.75M
-1.12%
-727.41
BKTi 44,724.17
14.61M
-1.01%
-457.04
OGTi 33,033.72
5.00M
-1.08%
-361.88
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 80,090.00 81,450.00
80,040.00
-1115.00
-1.37%
BRENT CRUDE 117.38 117.45
112.74
4.21
3.72%
RICHARDS BAY COAL MONTHLY 128.50 0.00
0.00
-1.10
-0.85%
ROTTERDAM COAL MONTHLY 147.10 0.00
0.00
1.10
0.75%
USD RBD PALM OLEIN 1,182.50 1,182.50
1,182.50
0.00
0.00%
CRUDE OIL - WTI 103.44 103.92
98.84
3.97
3.99%
SUGAR #11 WORLD 20.26 20.51
20.02
0.13
0.65%

Chart of the Day


Latest News
October 24, 2026 at 02:20 PM GMT+05:00

Key Pakistan Market Stats and Economic Indicators


October 24, 2026 at 12:59 PM GMT+05:00

VYU enters Pakistan, brings fashion shopping to livestreams


October 24, 2026 at 10:46 AM GMT+05:00

Weekly Market Roundup



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg