Construction sector key to economic growth: Imran Khan

Islamabad: Prime Minister Imran Khan said Monday the development of the construction sector is essential to accelerate the economic growth of the country.

He was chairing a high level meeting on restoration and promotion of the construction sector in Islamabad.

The meeting was briefed on the challenges faced by the construction sector. The Prime Minister said the promotion of the construction sector is the government’s top priority.

He said about forty industries were associated with the construction that can grow with the development of this sector and would also create job opportunities for the youth.

Prime Minister Imran Khan said with the development of the construction sector will help to complete the most important project of the five million homes.

The meeting discussed various suggestions on provision of loans for construction, uniform tax rates in provinces and enhancing public private partnership in the sector.

The Prime Minister also constituted a committee to formulate applicable suggestions on various problems faced by the construction sector, including provincial and federal level taxes on loans.

The committee headed by the chairman Naya Pakistan Housing Authority Anwar Ali Haider will be comprised of Chairman FBR, Governor State Bank, Finance Minister Punjab and Provincial Chief Secretaries.

The committee has been directed to submit its recommendations to the Prime Minister in 24 hours regarding taxes, loans from banks and other solutions to the problems faced by the construction sector.