ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) President Sardar Yasir Ilyas Khan on Saturday urged the Capital Development Authority (CDA) to amend its building bylaws in consultation with ICCI, developers, builders and other stakeholders.
He said that amendment in bylaws would give boost to construction activities in the federal capital as its existing bylaws were not conducive for the construction industry to boom.
He noted that the PM’s construction package was valid up to 31st December 2020, and urged the government to consider extending it for another year so as to enable the investors take maximum benefit from the package and generate more economic activities across the country.
Talking to a delegation of Traders Welfare Association, led by its president Aftab Gujjar, Ilyas said noted that CDA was not giving title to the purchasers of apartments and flats constructed on upper portions of commercial plots, as title was given only to the plot holders.
“Due to this situation, owners of apartments and flats are unable to avail bank financing because without title, banks are not giving them loans.”
He stressed that CDA should amend its laws to give title to the buyers of such apartments and flats.
He further highlighted that the BCS department of CDA was issuing notices against additional storey in markets, which was a cause of great concerns. “Demolishing additional storey in markets will cause great financial loss to the investors besides affecting the business activities,” he opined.
The ICCI president emphasized that instead of considering demolition, CDA should regularize all additional storey constructions with nominal charges so that business activities could flourish.
Speaking at the occasion, TWA President Aftab Gujjar President urged the CDA to immediately install streetlights in the G-11 Markaz as due to absence of streetlights, incidents of car thefts, mobile snatching and burglary in shops were on the rise in the area.
He said that the G-11 Markaz was one of the major commercial areas of Islamabad and CDA should focus on its better development in order to facilitate the growth of business activities.