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December 7, 2019

Constructors welcome decision to set up CIDB

Islamabad

December 7, 2019

Islamabad : Constructors Association of Pakistan (CAP) welcoming the decision of setting up of ‘Construction and Infrastructure Board (CIDB)’ has stressed the need of immediately setting up Construction Development Bank (CDB) and Immediate Bridge Financing facilities of all Federal and Provincial Projects by the Commercial Banks.

It may be mentioned here that the Prime Minister announced setting up of this board during a meeting with a delegation of the Association recently led by its Chairman Muhammad Asad Ullah Khan. CAP leadership also thanked the premier for approving the construction sector as Industry and said that construction development bank is essential to pace up construction activities in the country, which will lead to job creation and mobilization of 40 ancillary industries.

It is globally acknowledged that construction sector play a major role in the economic development and uplift of a country. Construction provides job opportunities to millions of skilled and un-skilled labor force. It is considered as one of the largest employment generating sector after Agriculture, said CAP Chairman Muhammad Asad Ullah Khan here on Wednesday.

He said unfortunately, in Pakistan no such body has been established so far that could cater to the needs and contribute to the development of construction industry. He demanded that the proposed Board should have the mandate of restoring the Pakistan Institute of Costs and Contracts (PICC), to advise and make recommendations to the Federal Government and the Provincial Governments on matters affecting or connected with the construction industry; promote, stimulate and undertake research into any matter relating to the construction industry and promote, and assist in the export of services relating to the construction industry.

He also urged that the government to authorize this board to promote and encourage quality assurance in the construction industry, regulate the conformance of standards for construction workmanship and materials and register and accredit contractors and consultants, to impose any conditions of registration and accreditation of the contractors and consultants to revoke, suspend or reinstate the registration and accreditation.

The CAP chairman and other office-bearers also drew the attention of the government towards another important demand of the construction industry i.e., establishment of Construction Development Bank and Immediate Bridge Financing of all Federal and Provincial Projects by Commercial Banks.

They observed that the construction projects are generally delayed due to delay in release of funds in the public sector projects. This delay increases the amount of interest on the delayed payments, lead to increased constructors claims and litigation, increases the escalation charges and also delay completion of projects.

NAB laws needs to be amended to stop undue harassment to Construction Industry, the CAP leadership also demanded and added that NAB should treat Construction Industry at par with other industries and businesses.

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