Pakistan’s top builders ready for projects of Rs1.3 trillion

Pakistan’s

National Coordination Committee on Housing, Construction and Development has turned out to be a morale booster for the builders and developers who are completely satisfied with the support being provided by the present government towards resolving their issues and providing them a conducive environment for undertaking greater activity in the construction sector. With enhanced satisfaction level, 13 leading builders of the country assure the prime minister of launching various projects during next 4-5 months that will generate an economic activity up to Rs1.3 trillion and addition of 100,000 housing units.

For the first time, not only the processes of seeking No Objection Certificates (NOCs) are being streamlined and duration is reduced but also the private banks are also encouraging builders and developers to avail credit portfolio reserved for construction, house building and development activities, stated the representatives of Association of Builders And Developers of Pakistan (ABAD) during the meeting.

The assurance was made during weekly meeting of National Coordination Committee on Housing, Construction and Development with Prime Minister Imran Khan in chair. Besides all Chief Secretaries of the provinces in attendance, leading builders and developers from Karachi, Islamabad and Lahore were also present during the meeting representing Association of Builders and Developers of the country. ABAD is a national level representative organisation of builders and developers to unify and streamline the construction activities of private sector. The Prime Minister appreciated Governor Governo State Bank of Pakistan (SBP) for his proactive role in encouraging private banks to extend much-needed support to the construction sector.

The builders and developers present during the meeting assured the Prime Minister that the present system will help expeditious resolution of their issues and pending approvals enabling them to undertake projects worth billions of rupees. In addition to the pledges made by the 13 builders who were present during the meeting, other commitments by builders and developers of ABAD will also follow soon. Source: gulftoday.ae