KARACHI: The construction sector marked a 44 per cent growth, as borrowing from the banking institutions was recorded at Rs88 billion during the first half of the current fiscal year 2020-21.
The increase has been linked to tax incentives and lower interest rates offered to the construction industry. The volume of borrowings by the industry is expected to grow more due to the increase in construction activities and mark-up subsidy scheme of State Bank of Pakistan (SBP).
As per the data released by the SBP, residential sector borrowed a sum of Rs41bn, whereas the commercial sector borrowed Rs47bn, marking an increase of 41% and 51% during the period Jul-Dec 2020.
Construction companies attached to the Furthermore, change in the SBP policy in which banks are required to lend 5% of their advances to the construction sector will also increase the borrowings.
In South Asia, Pakistan has the lowest construction-to-GDP ratio standing at 2.5% against the regional average of 7 to 8 per cent.
For news and blogs, visit Graana.com.
Karachi: A high-level meeting chaired by Sindh Minister for Local Government Syed Nasir Hussain Shah…
Riyadh: Saudi Real Estate Co. (Al Akaria) has signed a long-term lease agreement with Amsa…
Rawalpindi: The divisional administration has begun acquiring land for the Rs5 billion Thalian Interchange, a…
Islamabad: The Federal Board of Revenue (FBR) is preparing to seek approval from the International…
Riyadh: As Saudi Arabia’s Vision 2030 enters its third phase for the period 2026–2030, the…
Islamabad: The Capital Development Authority (CDA) has earmarked PKR 200 million to settle outstanding land…
Welcome to Graana Blog - Pakistan’s Smartest Property Portal!
For more than a decade our intention has been to revolutionise the real estate industry in Pakistan. The same belief drove the vision of our real estate team, Graana where quality beats quantity.
We have introduced an extremely transparent and purposeful portal where we will help you buy, rent or sell your property. A place where you can sit back relax and let us market your projects and listings. We believe we have set new standards for the future of real estate in Pakistan by providing the smartest property portal.
