Govt mulls package to boost construction

ISLAMABAD: The government is contemplating a comprehensive package to invigorate the construction industry, aiming to simplify regulations, attract investment, and bolster institutional support.

This package envisages a series of measures, including the establishment of a Construction Industry Development Board (CIDB), the evaluation of a dedicated Construction Development Bank (CDB), the rationalisation of import and export policies, and targeted tax reforms for the construction sector.

A meeting, chaired by Minister for Economic Affairs Ahad Cheema, was held on Saturday to oversee major regulatory, operational, and financial reforms in the construction sector. State Minister for Finance Bilal Azhar Kayani, and senior officers participated.

An official announcement said the proposed CIDB will play a dual role, encompassing both the overall development of the construction sector and a regulatory function overseeing industry standards, contractors, and consultants. Composed of representatives from both the public and private sectors, the board will serve as a unified platform to elevate national standards.

Plans new board, bank and tax cuts

Plans new board, bank and tax cuts

Mr Cheema noted that there is complete alignment between the federal government and the Construction Association of Pakistan (CAP)........

© Dawn Business