Over 4,700 construction projects approved since July, PM told

ISLAMABAD:

Prime Minister Imran Khan on Thursday chaired the weekly meeting of National Coordination Committee on Housing, Construction and Development, wherein he was apprised that since July this year, around 4,714 construction projects in Punjab had been approved.

Moreover, the province has also witnessed a historic increase in cement sales by 5.73 million tonnes during October this year.

The representatives of Association of Builders and Developers (Abad) informed the meeting that 74 development projects worth Rs28 billion had been approved in Sindh.

The launch of the said projects would generate economic activity of around Rs55 billion in the allied sectors, they added.

It was told that the cement and steel sales had increased by 17% and 19%, respectively during the last one year starting from September 2019.

Abad lauded the government’s efforts to ease the approval processes for the construction sector and also put forward their proposals.

State Bank of Pakistan Governor Reza Baqir informed the meeting that private banks had been directed to impart training to their respective staffers to facilitate the loan applicants. Moreover, “the central bank will continue monitoring the standards of the facilities for disbursement of the loan”, he added.

During the meeting, the prime minister directed for further easing the process for projects’ approval to facilitate the investors. He also instructed for action against the officers responsible for unnecessarily delaying the approval process.

He also issued instructions to the departments concerned on the proposals presented by Abad and sought progress report by next week.

Separately, Premier Imran chaired a meeting to review the steps regarding the availability of essential commodities and controlling the prices.

Imran said that the availability and pricing of essential commodities is a provincial prerogative but keeping in view the convenience of the poor people, they are monitoring the matter themselves and the “government is making every effort to provide relief to the people”.

Imran expressed satisfaction over the economic indicators, saying that they are in a positive direction.

“The government is making every effort to ensure that the fruits of this positive development in the economic field reach the people.”

The PM urged to constantly monitor the situation of flour and sugar and ensure that advance arrangements are made for future requirements.

He directed for making arrangements for the delivery of imported sugar to different parts of the country to avoid delays.

The Punjab chief secretary gave a detailed briefing about the availability and prices of wheat and sugar in the province.

The meeting was informed that all the district administration officers are constantly monitoring the availability of flour.

It was informed that detailed consultations have been held with the owners of flour mills.

The chief secretary assured that 25,000 tonnes of wheat will be threshed daily and market availability ensured.

Meanwhile, the Khyber-Pakhtunkhwa chief secretary informed the meeting that the province currently consumes 11,000 tonnes of wheat per day and has 1.1 million tonnes in stock.

Regarding flour prices, mills have agreed to reduce the price by Rs10 to Rs50 per 20kg bag.

“Two thousand and four hundred FIRs have been registered against profiteers and hoarders.”

The chief secretary assured that the release of 5,000 tonnes of wheat per day would be ensured by the provincial government.