Government to resolve problems of builders and developers: Federation of Pakistan Chambers of Commerce and Industry

Karachi, October 18, 2016 (PPI-OT): The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Tuesday said government is aware of the importance of the vibrant construction sector and the issues of builders and developers would be resolved soon. Apex chamber is in contact with the authorities are trying best to get the problems resolved as soon as possible, said President FPCCI Abdul Rauf Alam.

He said this while talking to Chairman of Islamabad Builders and Developers Association Sardar Tanveer Ilyas. President of the association Ch. Naseer, Arif Jeeva, Ashraf Karim Dedhi, Malik Fareed and Hafeez Pasha, former president ICCI Ijaz Abbasi and Chairman Coordination FPCCI Malik Sohail were also present on the occasion.

Abdul Rauf Alam said that FPCCI continue to apprise the government of problems faced by builders and developers, especially the issue of property valuation. He said that construction industry is providing jobs to millions of people while giving business to dozens of allied industries therefore timely action must be taken to redress grievances of builders and developers.

He noted that the property market is still reeling after the Finance Bill 2016 after which it recorded a downturn but things would improve soon, he hoped. He said that radical steps are needed to avoid decline in construction industry which has become one of the leading sectors of the economy reflecting double digit growth as buyers have suffered a drop in confidence while sellers have taken a blow.

He noted that the steps taken by the government has ensured transparency, stabilised the market, reduced fluctuations and encouraged genuine investors. Rauf Alam said that the problems faced by builders and developers of the Capital city would be presented to Mayor Sheikh Ansar Aziz for early resolution.

For more information, contact:
M. A. Lodhi
Secretary General
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Karachi-75600, Pakistan
Tel: +92-21-35873691, 93-94
Fax: +92-21-35874332