Construction industry relief package to double documented economy’s size: experts

Islamabad: A relief package announced by Prime Minister (PM) Imran Khan for the country’s construction sector is expected to double the size of the documented economy, news source reported.

Read: Construction Sector Relief Package Ordinance approved

Experts have referred to the said package as a ‘game’ changer for the industry. They also believe that the incumbent government’s promise of generating 10 million jobs will also be fulfilled through this initiative.

Commenting on the package, Lake City Founder Gohar Ijaz expressed hope that it will help activate nearly 50 sectors. He said that economic activity is returning to Pakistan and construction work has begun around the country. He added that the target of constructing five million homes is not a huge one give the right circumstance. He felt that this will also help raise the country’s GDP.

He said that the Lahore Development Authority (LDA), the Association of Builders & Developers (ABAD) and other stakeholders had been working since the last 18 months to draft the relevant proposals –recently announced by the government.

Read: Construction Industry Relief Package: Tax slabs under 3 categories explained

The experts have also expressed hopes that the government’s tax revenue will rise due to the greater documentation of economy.