ICCI demands early notification for construction industry package
- July 08, 2020
Muhammad Ahmed Waheed, President, Islamabad Chamber of
Commerce and Industry said that Prime Minister Imran Khan had announced an
attractive incentive package for the construction industry that aimed to stimulate
economic activity in the country and boost investment, but despite the passage of
three months, no relevant department in Islamabad has issued its notification due
to which its implementation was still at halt. He said that Punjab Government has
issued the notification and timelines for the construction industry and federal
government should do the same at the earliest to realize the benefits of
construction industry package.
Muhammad Ahmed Waheed said that about 3 years ago, CDA Board had approved
the amended industrial building byelaws, but CDA has not issued their notification
as yet due to which not only the industrial growth was suffering, but CDA was also
losing significant revenue. He said that business community was also facing
problems in lease renewal from CDA and this situation was affecting business
activities. He urged that CDA should issue notifications of amended building byelaws
and construction industry package. He further stressed that CDA should streamline
the lease renewal process to facilitate the growth of businesses.
ICCI President said that construction industry played a key role in the economic
development of the country as growth of over 50 allied industries depended on this
industry. He said that acceleration in construction activities would give boost to
business and investment activities besides creating plenty of new jobs that will
reduce poverty and unemployment. He said that construction of houses under Naya
Pakistan Housing Program will also benefit the low-income people for which
materialization of the said package was important. He stressed that the Prime
Minister should issue directions to all concerned departments for issuance of early
notification for implementation of construction industry package so that
businessmen and people could realize its benefits.
Tahir Abbasi Senior Vice President and Saif ur Rehman Vice President ICCI President
said that Covid-19 pandemic have caused devastating impact on business and
industrial activities and in these conditions, the growth of construction industry
would help in reviving the business and investment activities in the country. They
further said that Punjab Government has issued notification and timelines for
construction industry and federal government should also do the same in order to
give boost to economic activities.