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.
The Water and Sanitation Agency (WASA) Lahore is set to initiate a landmark sewerage upgrade…
Islamabad: The federal government is likely to include the Tax Laws (Amendment) Bill, 2024 in…
Islamabad: The International Monetary Fund (IMF) Executive Board is set to convene on Friday, May…
Members of the National and Punjab Assemblies have lauded the provincial government’s plan to introduce…
ISLAMABAD: The Capital Development Authority (CDA) has recorded a historic development expenditure of Rs25 billion…
ISLAMABAD: The federal government is set to inaugurate the Islamabad Information Technology Park on August…
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.
