Published On: Sat, Sep 14th, 2019
Published in Category: Islamabad

ICCI hails PM’s decision to declare construction sector as an industry

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Islamabad: The Islamabad Chamber of Commerce & Industry has welcomed the in-principle approval by the Prime Minister Imran Khan to declare the construction sector as an industry and termed it a very positive decision as it would help in resolving the key issues of construction sector, giving boost to business activities and reviving the overall economy.

Ahmed Hassan Moughal, President, Islamabad Chamber of Commerce & Industry said that construction sector has great potential to boost economic activities but due to some restrictive measures of the government, the sector had contracted by 7.6 percent during 2019 as per last quarterly report of SBP, which caused great loss to the economy. He said there was a dire need to make conducive policies for revival of construction sector and hoped that the decision of the Prime Minister to declare it as an industry would go a long way in enabling it to play more effective role in the economic development of the country.

ICCI President said that the growth of many allied industries was linked with the growth of construction sector and urged that government should formulate more conducive policies for this sector so that it could flourish and contribute significantly towards strengthening the economy. He was of the view that better growth of construction industry would help the government in achieving the goal of constructing 5 million houses during its tenure.

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