Centre to launch projects worth Rs400bn in construction sector: Shibli Faraz

ISLAMABAD: The Federal Government has announced to launch construction projects worth Rs400bn, in the last quarter of the current fiscal year.

In a meeting of the National Coordination Committee (NCC) on housing, construction and development presided by Prime Minister Imran Khan, various development projects were discussed to boost the construction industry, as well as, attract foreign investment.

This was informed by Minister for Information and Broadcasting Senator Shibli Faraz, in a joint news conference on ‘Poverty Alleviation and Social Safety’ with Prime Minister’s Special Assistant Dr Sania Nishtar.

The committee meeting attended by prominent builders and developers also decided to schedule regular meetings to uplift the sector.

Under the announced initiative, a proposed project worth Rs145 billion, for the construction of houses and apartments will be launched on October 20.

He further revealed the government’s plans to introduce and institutionalize the mortgage system to help expand the sector and facilitate the buyers.

The revival of the construction sector is aimed at kick-starting the economy and generate employment.

 

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