Lahore: An appliances manufacturer intends to avail the benefits of the federal government’s construction industry relief package, a news source reported on August 16. According to the details revealed, Waves Singer Limited, an electrical and home appliances maker, recently sought the approval of the Securities & Exchange Commission of Pakistan (SECP) to enter the country’s real estate and construction sector.
The company stated that it wanted to diversify its business scope by benefitting from the incentives offered through the PM’s construction industry relief package. For this purpose, the firm has also amended its clauses of Memorandum of Association in order to add the development of affordable housing projects and other real estate initiatives to its portfolio.
In light of the COVID-19 pandemic and the consequent lockdown announcement, the government had introduced several incentives for the country’s construction sector. The package was aimed at reviving the construction and real estate activities during the turbulent economic situation witnessed during the lockdown period.
