Zulfi Bukhari assures support for real estate sector

ISLAMABAD: A delegation of the Builders and Developers Association (BDA) called on Minister of State for Overseas Pakistanis Syed Zulfiqar Abbas Bukhari and informed him of the problems faced by the builders’ community and the real estate industry in general. The delegation highlighted lack of by-laws by Capital Development Authority (CDA) as a key obstacle for investment flow and continuity of development.

Zulfiqar Bukhari assured the BDA delegation that the Government will take every possible step to resolve the problems of the real estate industry. He was replying to the delegation’s demands for fair and transparent by-laws by the Capital Development Authority for commercial construction along Islamabad Expressway and the G.T. road up to Rawat area within Zone 5 of Islamabad. The delegation updated the Minister of State on the awareness campaign by BDA highlighting the absence of CDA by-laws. BDA delegates brought to the notice hundreds of millions worth in investments by overseas Pakistanis in Zone 5 commercial projects. The meeting ended with assurances from Zulfiqar Bukhari to resolve the issues of the real estate industry. He said the government is taking measures to improve ease of doing business for the real estate sector. He said the government would extend support to the investors including overseas Pakistanis with provision of effective and transparent by-laws for construction and real estate development.

Minister of State for Overseas Pakistanis underlined the importance of friendly policies and transparent bylaws to attract investment from the overseas Pakistanis community. The minister reiterated that ease of doing business in Pakistan was a key area of attention to the government. He added that overseas Pakistanis could play a crucial role in uplifting the national economy and were a major source of forex for the country. He said that keeping the trust of overseas Pakistanis community was essential in maintaining and improving remittances and other investments.