Development of construction sector essential to accelerate the economic growth: PM

November 11, 2019 (MLN): Prime Minister Imran Khan says the development of the construction sector is essential to accelerate the economic growth of the country.

He was chairing a high-level meeting on restoration and promotion of the construction sector in Islamabad on Monday.

The meeting was briefed on the challenges faced by the construction sector.

The Prime Minister said about forty industries are associated with the construction that can grow with the development of this sector and would also create job opportunities for the youth.

He said with the development of the construction sector, the most important project of the five million homes can be completed.

The meeting discussed various suggestions on the provision of loans for construction, uniform tax rates in provinces and enhancing public-private partnership in the sector.

The Prime Minister also constituted a committee to formulate applicable suggestions on various problems faced by the construction sector, including provincial and federal level taxes on loans.

Under the leadership of Chairman Naya Pakistan Housing Authority Lieutenant General Retired Anwar Ali Haider, the committee will be comprised of Chairman FBR, Governor State Bank, Finance Minister Punjab and Provincial Chief Secretaries.

The committee has been directed to submit its recommendations to the Prime Minister in 24 hours regarding taxes, loans from banks and other solutions to the problems faced by the construction sector.