Economic role: Real estate sector’s importance stressed

Government focus required to promote the sector

ISLAMABAD:

Islamabad Chamber of Commerce and Industry (ICCI) Acting President M Shakeel Munir said the real estate sector plays a crucial role in the economy, adding that government focus was required to promote this area.

“Real estate plays a big role in activating almost 40 allied industries and creating jobs and the government should focus on promoting this industry to boost economic activities,” said Munir.

He was addressing a delegation of Islamabad Real Estate Welfare Association that visited ICCI.

He said USA, China and many other strong economies achieved fast economic growth by promoting the real estate industry and Pakistan should also facilitate the better growth of this sector to realise economic benefits associated with its development.

He said according to a World Bank report, Pakistan is facing acute shortage and needs to build 1 million houses per year to cope with the rising demand of people.

Published in The Express Tribune, November 11^th, 2014.

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