Industry seeks help to avoid default

The construction industry has requested the government to save it from default as the sector is on the verge of collapse.

In a statement on Tuesday, the Constructors Association of Pakistan (CAP) highlighted that the overall prices of construction material had surged 43% from March 2020 to October 2021, leaving builders helpless as “they are unable to even continue work on the ongoing projects”.

CAP Chairman Kamal Nasir Khan appealed to the government to take necessary steps to help the dwindling construction industry.

“When the construction sector moves, the country moves,” he said and appreciated the government’s plan of constructing five million houses. 

Published in The Express Tribune, November 17^th, 2021.

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