Government Measures Could Revitalize Pakistan’s Construction Industry, Says Former ABAD Chairman

Karachi, Arif Yousuf Jewa, former chairman of the Association of Builders and Developers (ABAD) and prominent investor, highlighted the potential for government action to significantly boost the construction industry in Pakistan. He outlined several budget recommendations aimed at stimulating investment and expanding job opportunities within the sector.

According to Council of Economic and Energy Journalists, Jewa detailed these proposals at a dinner hosted for the CEEJ delegation, emphasizing the need to eliminate the 30% regulatory duty on steel bar imports to reduce costs and restart stalled construction projects. He argued that removing this duty could stabilize steel prices, thereby aiding the government to collect substantial revenue and support numerous related industries during economic downturns. Additionally, Jewa suggested modifications to tax policies to prevent double taxation in the real estate sector and advocated for improved mortgage finance terms to encourage home ownership among first-time buyers.