Govt Advised to Decrease the Prices of Construction Materials

construction materials

Muhammad Hassan Bakshi—the chairman of the Association of Builders and Developers of Pakistan (ABAD) has advised the government to decrease the prices of the construction materials. He urged the Prime Minister—Imran Khan to make sure that the prices of steel bars, cement, tiles and other construction items is reduced for facilitating the Naya-Pakistan Housing Scheme.

He also asked for the appointment of a leading personnel from private construction sector as the head of the prime minister’s task force for the housing scheme.

While addressing a press conference at the ABAD House on Monday, Hassan Bakshi said that the association has given support to the prime minister’s initiative of Naya Pakistan Housing Scheme with complete heart and it would be enhancing its strength and membership for the early imposition of the scheme.

Also Read: Here is how to apply for PM housing scheme

He also informed that the State Bank of Pakistan (SBP) is working on the financing model, under which it would be giving fifty per cent amount of the total expenditure of a house to the commercial banks at 1 per cent mark-up rate while the commercial banks would then be providing the same at the rate of 4 to 5 per cent.

He further said that the member of ABAD would only be permitted to work for the prime minister’s housing scheme, but, he immediately clarified that the association is not founding a monopoly however it wants to bring all the builders and developers under one umbrella.

He said that all other builders and developers who belong to the private sector would also be given the one window facility in regard to the housing scheme.

The ABAD chairman asked the government for the restoration of the Fixed Tax Regime (FTR) for the construction sector, he further added that the members of the association would build and handover the house possession within one-and-a-half-year time with minimal profit.

He advised the government for not handling the scheme as CPEC and give equal chances to the local investors, builders alongside the foreign investors for working on a partnership basis with the local investors.

More Read: Naya Pakistan Housing Programme: Check Eligibility Criteria & Apply Now

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