ISLAMABAD                  -                  Experts at an online interactive session have said that the Prime Minister Imran Khan’s Construction Incentive Package is a great opportunity for the construction sector to tap potential of this sector. However, they stressed upon the government to devise long-term policies for real estate sector so that the industry can really help boost economic growth.

The online interactive, conducted by  the Iqbal Institute of Policy Studies, was attended by seasoned experts from various different fields of life, including Shafiq Akbar, CEO Imarat Group of Companies and Chairman IIPS, Vice Chairman LDA S.M. Imran, Chairman ABAD, Akber Sheikh, President IIPS Advisory Board Lt. Gen. Haroon Aslam (R), former chairman Naya Pakistan Zaigham Mahmood, Provincial Chief (Punjab) SMEDA Javed Afzal and  Chairman PCATP Kaleem Siddiqui.  

They gave their insights on how the construction incentive package will help in shaping the urban fabric of the country and the effect of tax rebates and incentives on construction related activities. They also discussed the views of builders, developers and sustainability practitioners on the construction package.

Shafiq Akbar said that this is the first time in Pakistan that any government has realized the true potential of the real estate sector. This is a great opportunity for private companies to aid the government in this regard, he added.

Zaigham Mahmood said that energy-efficient housing will create impact only when it is implemented on the existing stock of the buildings which are large in number. There needs to be a policy in this regard which they have not yet framed.