KARACHI: Association of Builders and Developers of Pakistan (ABAD) Chairman Mohsin Sheikhani has said that Pakistan is currently facing a massive backlog of 8 million houses as the absence of a single policy has become the major obstacle for the construction industry. .
In a release on Friday, Sheikhani said that after the 18th Amendment, federal and provincial policies have been created that are relatively opposite to each other and, as a result, housing, town planning, engineers and builders are facing problems that are hampering the industry’s development.
He added that ABAD is going to organise a three-day international expo at Karachi Expo Centre next month from August 12. He said a large number of foreign companies from Singapore, Sri Lanka among other countries will also participate in the event.
“Due to the deplorable conditions of the construction industry, the country is facing a shortage of 8 million homes while in Islamabad alone we need around 400,000 houses,” said Sheikhani.
He added the development of the construction industry would also create employment opportunities.
While regretting the bureaucratic hurdles, he said, despite playing a crucial role, 75% of the sector’s proposals are rejected by the government.
Published in The Express Tribune, July 19th, 2014.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ