The government has removed restriction for new gas connection for residential and industrial sector which would increase the economic cycle in the country in coming years.
Prime Minister Nawaz Sharif holds a cabinet meeting in which several approvals were given including allowing gas connections to residential and industrial areas after six years long moratorium.
“The six years long moratorium has built up a back log of around 1.8 million houses as the country at least need 300,000 houses per annum”, said Mohsin Shekhani, chairman Association of Builders and Developers in Karachi. “We expect billions of rupees parking in housing schemes and in residential areas as the removal of restriction would fasten the construction activity in the country”, he said.
Immediately we would see construction of at least 500000 new homes in the country which would not help developers or builders rather it would have positive impact on the whole of chain of industries.
According to an analyst these new connections would not only generate revenues for Sui twins but also accelerate pace in the steel and cement companies.
“In Karachi and Lahore only about two dozen residential high rise which are awaiting such approvals would speed up their plans of construction”, a builder said.