Islamabad: Punjab Chief Secretary (CS) Jawad Rafique on Friday stated that construction activity in the province had generated PKR 1 trillion for the government. He expressed his views on the matter during a meeting of the National Coordination Committee on Housing and Construction; presided over by Prime Minister (PM) Imran Khan.
He said that construction activity initiated on 44 million square feet of land had led to an increase in the sale of cement, bricks, steel, and other building materials in Punjab.
Khyber Pakhtunkwa (KP) Chief Secretary Dr Kazim Niaz, who was also present on the occasion, informed the meeting that construction activity on six million square feet of land was seen to generate PKR 100 billion for the provincial government.
In response, the prime minister called for expediting the approvals process for applications pertaining to housing and construction. Moreover, he directed the Pakistan Telecommunication Authority (PTA) and the National Electric Power Regulatory Authority (NEPRA) to assist the State Bank of Pakistan (SBP) in addressing the queries of investors in the housing sector.
To this effect, SBP Governor Reza Baqir informed the meeting about the establishment of special desks for home loans by the central bank. Similarly, representatives of Bank Al Habib stated that the financial institution had disbursed PKR 6 billion in terms of housing loans.