President Islamabad Chamber of Commerce and Industry (ICCI) Muhammad Ahmed Waheed has said that Prime Minister Imran Khan had announced an attractive incentive package for the construction industry that aimed to stimulate economic activity in the country and boost investment, but despite the passage of three months, no relevant department in Islamabad has issued its notification due to which its implementation was still at halt.

He said that Punjab government has issued the notification and timelines for the construction industry and federal government should do the same at the earliest to realise the benefits of construction industry package.

In a statement issued here on Wednesday, Muhammad Ahmed Waheed said that about 3 years ago, CDA Board had approved the amended industrial building byelaws, but CDA has not issued their notification as yet due to which not only the industrial growth was suffering, but CDA was also losing significant revenue. He said that business community was also facing problems in lease renewal from CDA and this situation was affecting business activities.

He urged that CDA should issue notifications of amended building by-laws and construction industry package. He further stressed that CDA should streamline the lease renewal process to facilitate the growth of businesses.

ICCI President said that construction industry played a key role in the economic development of the country as growth of over 50 allied industries depended on this industry. He said that acceleration in construction activities would give boost to business and investment activities besides creating plenty of new jobs that will reduce poverty and unemployment.

He said that construction of houses under Naya Pakistan Housing Program will also benefit the low-income people for which materialisation of the said package was important. He stressed that the Prime Minister should issue directions to all concerned departments for issuance of early notification for implementation of construction industry package so that businessmen and people could realise its benefits.

Senior Vice President ICCI Tahir Abbasi and Vice President Saif ur Rehman said that Covid-19 pandemic have caused devastating impact on business and industrial activities and in these conditions, the growth of construction industry would help in reviving the business and investment activities in the country.

They further said that Punjab government has issued notification and timelines for construction industry and federal government should also do the same in order to give boost to economic activities.