Builders seek govt’s backing to increase investment

Expo in August may bring capital, exhibitors from Middle East.

Our Correspondent July 22, 2014

KARACHI: Builders and developers do not demand much from the government, all they need is a little encouragement to step up private sector investment in the construction industry, said Association of Builders and Developers (ABAD) Chairman Haris Ali Mithani.

In a statement on Tuesday, he said the construction sector was uniquely placed to help augment economic growth at a time when the country was expected to do well in the next few years.

The capital spent through this sector is capable of bringing direct and tangible returns to the country’s economy. Moreover, it also has the ability to employ and train a wide cross-section of workforce for future needs of the industry.

“We understand the difficult set of choices the government faces. The builders and developers do not intend to ask for state help and are looking forward to driving growth and employment on their own,” said Mithani.

He suggested that by utilising existing arrangements, the projects in the pipeline could be executed at a fast pace. “We stand ready to support the government’s economic recovery plans including the prime minister’s vision for low-cost housing facility for the poor,” he said.

The builders and developers also asked the decision-makers to look at the potential of the construction industry in order to give a boost to economic growth.

Giving details of the ABAD International Expo 2014, which is going to be held in mid-August, he said the exhibition would provide the builders, real estate developers and construction material industries a platform to exhibit in front of business buyers as well as end-users.

The exhibition provides an opportunity for investment and insight into real estate market trends in Pakistan.

Published in The Express Tribune, July 23rd, 2014.

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