Prime Minister Imran Khan says that the promotion of the construction sector is key to stability and growth of the country’s economy and has ordered the chief secretaries to expedite the approval of pending applications for the construction sector.
Chairing a weekly meeting of the National Coordination Committee for Housing, Construction and Development, the prime minister said that priority will be given to investors associated with this sector besides facilitating builders and developers.
Satisfied with the progress in the housing and construction sector, the prime minister also asked them to ensure that decisions on all applications are completed within the stipulated time.
The meeting was attended by Minister for Information Senator Shibli Faraz, Special Assistants Malik Amin Aslam, Lt Gen Asim Saleem Bajwa (retd), Dr Shahbaz Gill, Governor State Bank of Pakistan, Chairman Naya Pakistan Housing Authority Lt Gen (retd) Anwar Ali Haider, and secretaries of relevant Ministries. The chief secretaries attended the meeting through video-link.
CDA chairman apprised the prime minister of the progress on incentives given to the construction sector in Islamabad Capital Territory, the approvals given for commercial and residential construction, future projects, Park Enclave III project, auction of commercial plots in Blue Area and automation of CDA.
The prime minister was informed that the fee for floor area ratio had been reduced by 55 percent, and insurance and mortgage facilities have been simplified. Also, the lease issues have been resolved and a representative of the Islamabad Chamber has been included in the design voting committee.
It was also highlighted that the problems of E-11 sector had been resolved, and since mid-June, 429 out of 578 applications for residential and commercial projects had been approved while work on the rest is in progress.
CDA chairman said the projects will create 15,000 to 20,000 jobs.
Referring to the Park Enclave-III project, he mentioned that it received a very encouraging response. The auction of commercial plots in Blue Area will be held on September 21, 22 and 23, he added. The chief secretary Punjab said that since July 1, 2129 applications had been received out of which 1285 have been approved while 844 were in the process of approval.