Karachi, May 08, 2020: Iqbal Institute of Policy studies conducted an online interactive session to discuss Prime Minister Imran Khan’s Construction Incentive Package in order to increase the employment opportunities in the country amidst COVID-19 pandemic.
The Prime Minister’s construction incentive package concentrates on tax rebates and incentives in the construction center, the intention of which is to ensure a quick activation of economic activity and to encourage investors to invest in low cost housing schemes.
The session 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 , Javed Afzal , Provincial Chief (Punjab) SMEDA and Chairman PCATP Kaleem Siddiqui.
The seasoned experts 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,CEO Imarat Group of Companies said that ince the inception of Pakistan, this is the first time that any government has realized the true potential of the Real Estate sector.” “Government departments are unable to make master plans of all cities because they have limited human and financial resources. This is a great opportunity for private companies to aid the government in this regard, he added.
While discussing the smart cities as need of an hour, former Chairman Naya Pakistan Zaigham Mahmood said that energy-efficient housing will create impact only when it will be implemented on the existing stock of the buildings which are large in number. There needs to be a policy in this regard which we have not yet framed.” Participants stressed that government should devise long term policies for real estate sector so the industry can really help boost economic growth.