Lahore: The Association of Builders and Developers (ABAD) North Region has expressed optimism that the federal government will soon announce a revival package for the construction industry to address sectoral challenges and drive sustainable development.
ABAD North Chairman Sheikh Muhammad Nabeel acknowledged the efforts of Prime Minister Shehbaz Sharif, Finance Minister Muhammad Aurangzeb, and Housing Minister Riaz Hussain Pirzada in revitalizing Pakistan’s housing sector. He welcomed the formation of a dedicated task force and reiterated ABAD’s key proposals, including reducing Withholding Tax, eliminating Federal Excise Duty (FED), and introducing Fixed-Rate Mortgages to attract investment and spur economic activity.
Nabeel urged banks to prioritize construction financing, noting that Pakistan has the lowest home mortgage-to-GDP ratio in the region. He emphasized the need for policies that improve financial accessibility and incentivize formal sector participation to stimulate real estate investment.
Highlighting the foreign direct investment (FDI) potential of $100 billion in the real estate sector, he stressed that targeted reforms could unlock significant economic growth and enhance investor confidence in Pakistan’s construction and housing industries.
