Construction industry seeks for allied industries coordination to build 500,000 low cost houses

Jun 10, 2020: The construction industry has called upon the government to provide allied industries coordination to materialize construction of low cost 500,000 houses in 16 major cities of the country.

The cement and steel are the key allied industries of the construction sector which are playing central role for maintaining cost of doing business and providing competitive to the construction industry, Chairman Association of Builder and Developers (ABAD) Mohsin Seikhani told on Wednesday.

The chairman ABAD said that his association has given a budget proposal for upcoming budget 2020-21 to the government to focus on prices of cement and steel industry for maintaining the cost of doing business to construct subsidized housing schemes in all over the country.

He said that energy prices also affecting the construction industry’s inputs cost and,” We also need to maintain energy prices same like other regional countries.”

He said that investors from China, Italy, Turkey and Iran wanted to come for investment in local construction sector, “We need to encourage them for providing them facilities according to international level.”

He said that “We can attract the foreign investment in construction sector through start the one window operation in our Special Economic Zones (SEZs) to facilitate them in the country.”

Mohsin also hailed the government’s tax relaxation decision for the construction industry, which he said would promote growth momentum.

Chairman ABAD said that now the construction sector acquired the status of industry which would have positive impact on country's economic health and also enhance economic growth.

He said that said that ABAD was demanding incentives for the construction sector because more than 38 allied industries were dependent on it.

"We are indebted to Prime Minister Imran Khan for reviving construction industry and give this status for the revival of the sector," he said.

Mohsin praised the government for comprehensive strategy plans to address the local industrial sector issues during the coronavirus pandemic.

Replying to a question, he vowed to construct 500,000 new houses in 16 major cities in the country during the next three years.

The houses would be built in four major cities including Karachi, Hyderabad, Sukkur, Nawab Shah, Lahore, Faisalabad, Multan, Gujranwala, Bahalpur, Rawalpindi, Islamabad, Peshawar, Abbottabad, Nowshera, Haripur , Quetta , he said.

“We have completed our market study and acquired land and industrial players would start construction of houses to complete in next two years,” He said.

Chairman Abad said, “We would provide these houses on affordable rates of Rs 3 to 2.5 million in two different categories for middle class families for giving them good residential facilities in major cities".

Chairman All Pakistan Cement Manufacturers Association, Azam Faruque said that construction of new 500, 000 house to start business activity in market and would benefit the steel industry.

On the occasion, Chairman Pakistan iron and steel Merchant Association, Tariq irshad said that construction industry was considered the back bone of any economy, which generated the huge employment opportunities.

He welcomed the construction of new 500,000 houses from ABAD, which would start huge economic activity in market to increase the economic growth.

APP