Business community seeks extension of construction package till June 2021

ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) President Sardar Yasir Ilyas Khan said on Wednesday that Prime Minister Imran Khan had announced a construction package to revive the economy, but due to the short duration of the package, some investors have not been able to take full advantage of the incentives.

He appealed before the government to extend the construction package till June 30, 2021, so that maximum investors could invest in Pakistan.

Addressing a delegation of the Real Estate Welfare Association, led by its President Chaudhry Abdul Rauf, Khan said that ICCI was considering holding an exhibition to highlight the potential of the real estate sector.

He said that the development of the real estate and construction sector would help the businesses of over 70 allied industries to flourish, besides reducing unemployment in the country.

“Therefore, promotion of this sector should be the topmost priority of the government.”

He assured the delegation that he would play his due role in resolving the problems faced by the real estate sector.

Speaking on the occasion, Chaudhry Abdul Rauf said although the government had taken a wise step by announcing a construction package, the “bureaucracy had created obstacles by issuing SRO 924(I)/2020”.

He informed that stakeholders were not taken into confidence before the issuance of this SRO, which would not only have a negative impact on the businesses related to the real estate sector but would also shake the confidence of investors.

He demanded an immediate withdrawal of the SRO-924, which according to him was contradictory to the construction package.

Rauf assured the chamber of his full support in its efforts to promote the interests of the business community.

 

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