Rs. 1,100 Billion Expected to Generate Economic Activity from Construction Projects – RS News

Rs. 1,100 Billion Expected to Generate Economic Activity from Construction Projects

Rs. 1,100 Billion Expected to Generate Economic Activity from Construction Projects – KPK and Punjab governments to participate.

Construction Projects to Generate Economic Activity

Recently, the PM was informed that applications related to some construction projects were received by the Punjab and KPK governments. These construction projects would be generating economic activity of around Rs 1,100 billion.

During the meeting of the National Coordination Committee on Housing, Construction, and Development, the Punjab chief secretary told that from across the province, they had received some applications for construction projects over 44 million sq ft of which approval for 20 million sq ft had already been granted.

The secretary told that with the enhancement of construction activity, the consumption of materials like cement, bricks, and steel had also increased.

This construction project is expected to increase the economic activity by Rs. 1 trillion (Rs. 1,000 billion).

On the other hand, the chief secretary of KPK also mentioned that they had received requests for construction projects over 6 million sq ft area which would increase the economic activity by Rs. 100 billion.

These construction activities would improve national economy besides providing employment opportunities to the people.

The PM directed the government to approve the received applications without any delay.

PM Imran Khan also instructed Pakistan Telecommunication and NEPRA to coordinate with the State Bank of Pakistan to resolve the issues confronting the construction industry.

State Bank Governor Dr. Reza Baqir told the meeting that the banks were fully facilitating the loaning process for the construction of houses under the Naya Pakistan Housing Scheme.

The source information also added that a representative of Bank Al Habib told that they had so far approved loans of Rs. 6 billion for the construction industry.

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