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July 9, 2020

ICCI demands notification for construction industry package

Islamabad

July 9, 2020

Islamabad : Islamabad Chamber of Commerce and Industry (ICCI) President Muhammad Ahmed Waheed 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.