Infrastructure bank proposal under study

Khusro Bakhtiar says govt taking measures to create environment conducive for industries

Our Correspondent December 07, 2018
Commuters walk past a bank sign along a road. PHOTO: REUTERS

ISLAMABAD: Federal Minister for Planning, Development and Reform Makhdoom Khusro Bakhtiar has underlined that the Pakistan Tehreek-e-Insaf (PTI)-led government is taking various measures to create an environment conducive for local industries, enabling them to grow and enhance their capacity to boost the national economy.

The minister was speaking to a delegation of the Constructors Association of Pakistan which called on him headed by Vice Chairman Shahid Rafique.

The planning minister stated that diverting the country’s economy to a sustainable growth trajectory was the top priority of the present government.

“The government is determined to resolve issues of the local construction industry by providing them with an enabling environment and level playing field as they are important partners in the development of the country,” he declared, adding that the construction industry was the largest sector in the country for employment creation after agriculture.

Bakhtiar was of the view that the construction sector could play an important role in implementing the government’s vision of constructing five million houses for low-income groups.

“The five million housing project, besides addressing housing issues, will also generate economic activities through the creation of jobs as well as giving a boost to the allied sectors including construction,” the minister highlighted. “In this regard, the construction industry can coordinate with the task force on housing to turn the government’s plan into reality.”

During the meeting, the delegation apprised the minister of the challenges being faced by the construction industry. The delegation requested for establishing a construction and infrastructure development board under the Ministry of Planning for immediately addressing their issues.

It also sought support in securing international contracts for the export of construction services. A proposal for establishing a construction and infrastructure development bank also came under discussion which would provide financial support on the lines of Zarai Taraqiati Bank Limited.

The minister assured them of full support and cooperation in addressing their problems and also directed the authorities concerned of the ministry to look into the modalities of setting up the board and address other related issues.  

Published in The Express Tribune, December 7th, 2018.

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