Staff Reporter
Islamabad
Business community on Sunday urged the concern departments to issue notification of the attractive incentive package for the construction Industry announced by the Prime Minister Imran Khan.
They said that the PM had announced an attractive incentive package for the construction industry which had been included in the budget but despite the passage of two months, this package could not be implemented.
They said that no department had yet issued any notification for implementation of its incentives.
They also urged the Prime Minister to take notice of this situation and issue immediate orders to all the concerned departments to implement the package in letter and spirit.
Muhammad Ahmed Waheed, President, Islamabad Chamber of Commerce and Industry said that the growth of construction industry would move the wheel of the economy faster as more than 50 allied industries were associated with this industry that would also grow fast.
He said that with the acceleration of construction activities, businesses in the markets would flourish, new investment would get boost, thousands of people would be employed which would benefit reduce poverty in the society while construction of houses under Pakistan Housing Program would benefit the low-income people.
He, therefore, urged the Prime Minister to take steps for immediate implementation of his announced package.
He said that the devastating impact of COVID-19 pandemic was still continuing leading to 40 percent reduction in the industrial production. He said smart lockdown in some markets and complete lockdown in others for the last 3 months had severely affected the supplies of industrial sector and if this trend continued, there was a danger that many companies in the corporate sector would default.
