ISLAMABAD, Nov 30 (APP): President Dr Arif Alvi Tuesday called for further digitalization of the land records to give boost to the construction sector in the country.
Speaking at the concluding ceremony of Pakistan International Property Exhibition here, he said the emphasis should be on vertical construction and affordable housing.
He recalled that Pakistan effectively tackled coronavirus pandemic, continued with its industrial activity, adding the government and private sector helped vulnerable sections of society at a critical time.
He said due to supply chain and logistical problems the prices of commodities increased all over the world.
He said the government had limited resources but still it had given subsidies worth hundreds of billions of rupees on essential items to the low income people through Ehsaas programme.
He said Pakistan was making good progress in the decade of 1960s but later corruption became a problem for the country.
He said construction was an important industry and the economy would get a boost with its progress.
Cities like Dubai made great strides by making huge investments in the construction sector, he noted. Pakistani investors also put their money in the construction sector of Dubai, he added.
The President said housing was a basic need for a person and at present there was a gap between the supply and demand of housing units in the country.
He said foreclosure law was an important law for reclaiming a property and for the progress of housing sector.
Islam also stressed on return of loans and spread of money for socio-economic progress and increase of productivity, he asserted.
He said the construction package announced by the government of Prime Minister Imran Khan gave an impressive boost to the construction industry which received investment of Rs 36 billion.
About 40 industries were allied with the construction industry, he added.
He said construction activity like the roads constructed by Sher Shah Suri generated employment and boosted economic growth.
He underlined the need for skill development of youth who could not get proper education.
Dr Alvi said in previous decades Pakistan exported its manpower who sent precious foreign exchange to the country.
He said our intent in the future should be to use the manpower for the development of Pakistan instead of sending it abroad.
In the past, due to lack of planning and opportunities, the professionals of Pakistan including doctors and engineers went abroad, he observed.
He underscored the need for the promotion of export oriented industry to improve the country’s balance of payments.
He said due to efforts of the government and private sector, textile and construction sectors expanded. The wages of labourers in the construction sector also increased.
He was hopeful that businessmen would be able to further increase exports due to the conducive business environment in the country.
He said inflation was a worldwide problem and countries like Turkey had seen inflation of 30 to 40 percent.
Organizers of the event including CEO Pak World Trade and Expo Centre Khurshid Barlas also spoke on the occasion.
Earlier, the President gave away shields to the leading property and construction companies in recognition of their achievements.