Construction industry Incentives to push wheels of economy
Real estate demand has plummeted by almost 90 percent in Mumbai alone, with falling sales and the lull in construction severely affecting access to credit. PHOTO: AFP
The government has announced a number of incentives to boost the construction industry, which will help in moving the wheels of economy and accelerate economic activities in the country, said Islamabad Chamber of Commerce and Industry (ICCI) President Muhammad Ahmed Waheed. In a meeting with officials of the Federation of Realtors and Real Estate Association, Waheed said in order to develop the construction sector, the government had announced an amnesty scheme, which was a positive move. “By supporting the construction industry and announcing incentives for it, a number of job opportunities will be created because about 60 other industries are associated with this industry,” he said. The ICCI president voiced hope that the people engaged in the construction industry would benefit from the package, which would not only boost construction activity but would also help in reducing unemployment in the country.
Published in The Express Tribune, August 4th, 2020.
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