Financial constraints, floods pose challenges

Govt asks private sector to take leading role in propping up economy

ISLAMABAD:

Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal has said that due to recent flash floods and financial constraints, the government is facing great challenges and private sector should take leading role in developing the economy.

The minister made the remarks on Friday after inaugurating the three-day ICCI Pakistan Property, Housing and Construction Expo 22 being organised at the Pak-China Friendship Centre.

“The government wants to make Pakistan an export-led economy and the role of private sector is more important in enhancing productivity and exports,” he stressed.

He pointed out that he had already held meetings with Islamabad, Karachi, Faisalabad and other chambers of commerce and industry, and asked the private sector to highlight the difficulties it was encountering in business and economic activities.

Iqbal assured businessmen that the government would address their concerns and facilitate them in all possible manners. He asked the businessmen to produce more and export more to improve the economy.

He congratulated the ICCI for organising the property, housing and construction expo as it would contribute to improving the economy.

Speaking at the ceremony, Federal Ministry of Housing and Works Secretary Iftikhar Ali Shallwani announced that his ministry would also organise a housing expo in December this year and it would like to work with the private sector under public-private partnership mode.

ICCI President Muhammad Shakeel Munir stated that the purpose of organising the property and housing expo was to boost business activities in the sector to revive the economy.

“If given better attention by the government, the real estate and construction sector has the potential to put the economy on a fast growth track,” he emphasised.

Ambassadors of Azerbaijan, Kyrgyzstan, Poland, Romania and South Africa, high officials of the housing ministry and a large number of ICCI members attended the event.

About 100 companies from the property, housing and construction sector including many big brands put up their stalls at the expo to display their projects.

Published in The Express Tribune, September 10^th, 2022.

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